9514 1404 393
Answer:
124
Step-by-step explanation:
In the absence of any information about interest compounding, we'll assume that simple interest applies. The balance is ...
A = P(1 +rt) . . . . . principal P, annual rate r, for t years
A = 100(1 +0.03×8) = 100×1.24
A = 124
124 would be in the account after 8 years.
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<em>Additional comment</em>
If interest is compounded annually, the amount would be ...
100(1.03^8) ≈ 126.68
