header bg

Scan QR code or get instant email to install app

Question:

A teacher deposited $3,000 in a retirement fund. If she didn’t add any more money to the fund, which earns an annual interest rate of 6%, how much money would she have in 1 year?

A $3,180
explanation

To determine the amount of interest earned, multiply the principal ($3,000) by the interest rate (6%) and the number of years interest accrues (1 year): $3,000 × 0.06 × 1 = $180. Add the interest earned to the principal to show how much total money the teacher would have: $180 + $3,000 = $3,180.

Related Information

Comments

BRXN PÈRMÄN

9 months ago

Really studying and hoping to in-list

Melvin Burgos

9 months ago

Exelente aplicacion

Burton Squad

9 months ago

I have no complaints!!! Im just happy someone stepped up to help others like myself. I struggle alot in General Math portion. Thank you!!! I hope I can get into the military and make this world proud!!

Leave a Reply

Your email address will not be published.

*