Answered

Discover a wealth of knowledge at Westonci.ca, where experts provide answers to your most pressing questions. Explore our Q&A platform to find in-depth answers from a wide range of experts in different fields. Get quick and reliable solutions to your questions from a community of experienced experts on our platform.

Adrian 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 he multiply his current balance by to find his total balance in a year in one step?

Sagot :

francocanacari

Adrian must multiply his money by 1.03 to find his total balance in a year in one step.

Simple interest

Given that Adrian invests money in an account paying a simple interest of 3% per year, to determine, if no money will be added or removed from the investment, what should he multiply his current balance by to find his total balance in a year in one step, the following calculation must be performed:

  • Current balance = X
  • Interest = 3% = 3/100 = 0.03
  • Interest + principal = 1.03
  • 1.03X = Total balance in a year

Therefore, Adrian must multiply his money by 1.03 to find his total balance in a year in one step.

Learn more about simple interest in https://brainly.com/question/9895511

Thanks for using our service. We're always here to provide accurate and up-to-date answers to all your queries. We hope our answers were useful. Return anytime for more information and answers to any other questions you have. Westonci.ca is here to provide the answers you seek. Return often for more expert solutions.