saul224321 saul224321

26-02-2021
Mathematics

contestada

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%

Respuesta :

owlimensah owlimensah

26-02-2021

Answer:

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

Step-by-step explanation:

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