Jane deposited $10,000 into her bank account in December, 2010. Her account earns interest at a rate of 3% compounded monthly. H

Question

Paraphin [41]

3 years ago

10

Jane deposited $10,000 into her bank account in December, 2010. Her account earns interest at a rate of 3% compounded monthly. H

ow much money will she have in December of this year (2018)? Round your answer to the nearest whole number.

Mathematics

1 answer:

shtirl [24] · Answer 1 · 2021-12-22T23:38:17+03:00

shtirl [24]3 years ago

4 0

Answer:

10,000(amount deposited) x .03(percent) = 300. 300 x 12(because there are 12 months in a year) = 3,600. So she will have $3,600 by December from interest rate.

Step-by-step explanation: