Suppose you deposit $3000 in a savings account that pays interest at an annual rate of 4%. What is the growth factor?

asked May 9, 2022 229k views

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Suppose you deposit $3000 in a savings account that pays interest at an annual rate of 4%.

What is the growth factor?

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Answer:

$750 for 4 percent annually

Explanation:

3000/4 =750 But it also depends on if you want that 4 percent to grow.

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