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3 years ago

14

You deposited $1,500 in a savings account that pays 3% interest annually, compounded monthly. After one year, your balance is $1

,545.62. What is your rate of return for one year?
3%
1.03%
3.04%
0.03%

1 answer:

Georgia [21]3 years ago

8 0

Answer:

100 + 10% = $110, and after two years you will have $110 + 10% = $121.

Step-by-step explanation:

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