Ask Question
6 September, 08:22

A retiree invests 3,000 in a savings plan that pays 3% per year. What will the account balance be at the end of the first year

+4
Answers (1)
  1. 6 September, 09:40
    0
    Interest earned = rate charged * amount invested

    Interest = 3/100 * $3000 = $90

    Account balance after one year = Amount invested + Interest earned

    Account balance after one year = $3000 + $90 = $3090
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “A retiree invests 3,000 in a savings plan that pays 3% per year. What will the account balance be at the end of the first year ...” in 📘 Mathematics if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers