Question

Lauren deposited $3,000 into a savings account with an annual interest rate of 0.75%. She made no deposits or withdrawals for 3 years. If interest was compounded annually,
which equation represents the balance in the account after 3 years?
A = 3000(1 +0.0075)^3
A = 3000(1 -0.0075)^3
A = 3000(1 + 0.075)^3
A = 3000(1 +0.75)^3

Answer 1

The upper one is correct. Because 0,75% = 0,0075 ( :10) and since the interest rate is positive it has to be 1 + ...