Question

Josiah invests $360 into an account that accrues 3% interest annually. Assuming no deposits or withdrawals are made, which equation represents the amount of money in Josiah’s account, y, after x years?
y = 360(1.3)x
y = 360(0.3)x
y = 360(0.03)x
y = 360(1.03)x

Answer 1

Y=360(0.003)x because