Question

Yasmin invests money in an account paying a simple interest of 3% per year. If no money will be added or removed from the investment, what should she multiply her current balance by to find her total balance in a year in one step?

Answer 1

hi

so the amount will be increased by 1 + 3/100 = 1.03

so multiply current balance by 1.03 and she will know balance in a year