You deposit $1500 in an account that pays 3% annual interest. Find the balance after 1 year if the interest is compounded monthl
1 answer:
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For this case, the first thing we must do is define a variable.
We have then:
x: unknown number
We now write the expression that models the problem:
From here, we clear the value of x.
We have then:
Answer:
4/9 divided by 1/27 equals 12