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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.
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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!!