anonymous
  • anonymous
Don put $3,000 in a savings account with an interest rate of 3% for three years. If the interest is compounded annually, how much money will he have at the end of the three years? A. $3,378.18 B. $6,591.00 C. $3,182.70 D. $3,278.18
Mathematics
  • Stacey Warren - Expert brainly.com
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SOLVED
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katieb
  • katieb
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anonymous
  • anonymous
(3000)(1.03)(1.03)(1.03) = (3000)(1.03)^3 = (3000)(1.092727)
anonymous
  • anonymous
wich one is it
anonymous
  • anonymous
The "1.03" factors come into play because it is "1" plus "3%" because you have the principal plus the interest after each year. To get the answer, all you have to do is do that last multiplication. Don't worry, I checked, and the answer will be among the choices.

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anonymous
  • anonymous
is it D
anonymous
  • anonymous
Yes! Good job!
anonymous
  • anonymous
Good luck to you in all of your studies and thx for the recognition! @Cookie_009

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