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How much interest would $1,600 earn in 1 year at an annual rate of 3% compounded annually? What would be the new balance?

How much interest would $1,600 earn in 1 year at an annual rate of 3% compounded annually? What would be the new balance?
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4 votes
How much interest would $1,600 earn in 1 year at an annual rate of 3% compounded

annually? What would be the new balance?

User Domguinard
by
8.2k points

1 Answer

5 votes

48$ dollars would be the correct anwser

User Mukil Deepthi
by
8.1k points
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