Question

Jane deposited $10,000 into her bank account in December, 2010. Her account earns interest at a rate of 3% compounded monthly. How much money will she have in December of this year (2018)? Round your answer to the nearest whole number.

Answer 1

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: