Andre is saving money for college. He had $1,500 in his account. At the end of the year the bank adds 3% to the balance to his a ccount.
Why does his account have $1,545 now?
1.Sales tax
2.markup
3.interest
4.gratuity(tip)
5.markdown(discount)
6.commission
2 answers:
3: interest interest is the increase amount per year to the initial amount of money deposited into the bank acc. so there was a 3% increase in the $1,500 making andre have $1,545 at the end of the year
3. Banks use interest in order to make a cut of the money.
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