Answered

Westonci.ca connects you with experts who provide insightful answers to your questions. Join us today and start learning! Experience the ease of finding quick and accurate answers to your questions from professionals on our platform. Our platform offers a seamless experience for finding reliable answers from a network of knowledgeable professionals.

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

Thank you for choosing our service. We're dedicated to providing the best answers for all your questions. Visit us again. We hope you found what you were looking for. Feel free to revisit us for more answers and updated information. Thank you for visiting Westonci.ca, your go-to source for reliable answers. Come back soon for more expert insights.