Question

If $1,000 was deposited today at a rate of 15%, its future value in one year would be

$1,000.
$1,150.
$1,500.
$850.

Answer 1

$1,150.

Step-by-step explanation:

First, we find what that 15% is by setting an equation:

`(15)/(100) * (1000)/(1)`

This gives us: $150

Now, we just add that to the deposited money.

$1000 + $150 = $1,150

Hope this helps!