Miguel deposited $1,200 into an account that pays simple interest at an annual rate of 4%. What is the value of his initial deposit after 3 years?

Tremoloqui asked Aug 8, 2022

300,764 views

9 votes

Tremoloqui asked Aug 8, 2022

3.2k points

Your comment on this question:

Email me at this address if a comment is added after mine:Email me if a comment is added after mine

Privacy: Your email address will only be used for sending these notifications.

Email me at this address if my answer is selected or commented on:Email me if my answer is selected or commented on

Privacy: Your email address will only be used for sending these notifications.

14 votes

Answer:

At the end of 3 years, your savings will have grown to $1,349

Darm answered Aug 14, 2022

by Darm

3.1k points

Email me at this address if a comment is added after mine:Email me if a comment is added after mine

Privacy: Your email address will only be used for sending these notifications.

Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

1.6m questions

2.0m answers