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

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asked Dec 2, 2017 178k views

1 Answer

Stamster · Answer 1 · 2017-12-07T13:26:36+0000

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.

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

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