09-08-2016
Mathematics

Answered

$3,000.00 and 8 percent interest compounded annually. what is amount after 1 year.

Verified Answer :

23-08-2016

If you would like to know the amount after 1 year, you can calculate this using the following steps:

8% of $3,000.00 = 8% * 3,000.00 = 8/100 * 3,000.00 = $240

$3,000.00 + $240 = $3,240.00

The correct result would be $3,240.00.

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