If you deposit 1000 in a savings account with an intrest rate of r compounded annually then the balance in the account after 3 y
ears is given by the function b(c)=1000(1+r) where is r written as a decimal?
1 answer:
Answer:
3.23%
Step-by-step explanation:
The rate is acquired from 1100 = (1+r)^3 *1000. then r is equal to 3.23%.
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