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Veseljchak [2.6K]
3 years ago
12

An account is opened with an initial deposit of $100 and earns 3.0% interest compounded monthly. What will the account be worth

in 25 years? Round your answer to the nearest dollar.
Mathematics
1 answer:
Roman55 [17]3 years ago
5 0

Answer:

$175 dollars

Step-by-step explanation:

3% of 100 is 3

3*25 =75

100+75=175

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Step-by-step explanation:

<u>To find the solution:</u>

  1. Use the equation p·x=y where x = 13,920 and y = 16,000
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The second option has a lower amount of interest paid.

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<em><u>Second loan option </u></em>

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A similar question was answered here: brainly.com/question/23082103

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