blessunderhill blessunderhill

25-03-2020
Mathematics

contestada

Eva deposited $30 in a savings account earning 10% interest, compounded annually.
To the nearest cent, how much will she have in 3 years?

Respuesta :

lordsonmyk lordsonmyk

25-03-2020

Answer:

$ 9

Step-by-step explanation:

Simple Interest = P.R.T / 100

P = Principal (Amount invested) =$30

R = Rate= 10%

T = Time = 3 years

Therefore, Simple Interest (I):

I = PRT/100

I = ($30 * 10 * 3 ) / 100

I = $900 / 100

I = $9

She will have a total of $9 in three years

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