Question

Encouraged by his investment, Joseph decides to open another CD account. This time, he deposits $1000 and plans to leave it untouched for three years. In exchange, the bank will pay him 0.3% interest every month. How much will be in the account when the three years have passed?

I saw that someone had already answered this in another question but their answer was wrong the actual answer is C. $1,113.87

Answer 1

$1,113.87

Explanation:

The initial value is 1,000, the rate of increase is 1.003, and the number of times it will increase is 36. y=1000 ( 1.003 ) 36 =1,113.87y equals 1000 left parenthesis 1.003 right parenthesis superscript 36 baseline equals 1113.87.

Answer 2

1,113.87

Step-by-step explanation: Ps it was a joke man