Answered

Welcome to Westonci.ca, the place where your questions find answers from a community of knowledgeable experts. Connect with a community of experts ready to provide precise solutions to your questions quickly and accurately. Discover detailed answers to your questions from a wide network of experts on our comprehensive Q&A platform.

Willie wants to save for a new racing bike. If he deposits $250 in a savings account at 4% simple annual interest, what will his balance be after 3 years?.

Sagot :

He deposit $250 in savings at 4% annual innterest. After 3 years 250$ have grown but how much.

Answer:
4% in decimal is 0,04 but since we are getting more money and not less, we plus 0,04 with 1 which is 1,04.

And now we now after 1 year. We multiply 250$ with 1,04.

But if we want 3 years we multiply 250$ with 1,04 three times.
Result:
250$ * 1,04 * 1,04 * 1,04 = 281,216$
MODflamer

Answer:

280$

Explanation:

calculations ez

We appreciate your visit. Our platform is always here to offer accurate and reliable answers. Return anytime. We hope you found what you were looking for. Feel free to revisit us for more answers and updated information. We're dedicated to helping you find the answers you need at Westonci.ca. Don't hesitate to return for more.