laureneaves laureneaves

Today at 4:15 AM
Mathematics

Answered

A savings account earns 5% interest each year, compounded monthly. If a person invests $300 and makes no further deposits or withdrawals, what is the balance in the account after 3 years?

Answer :

mariavalentino mariavalentino

Today at 4:20 AM

I think the answer is $345
Because 5% of $300 is $15
So since it’s 3 year then we multiply
3x$15= $45 so $300 plus $45 = $345
I hope this helps
Please mark as brainliest

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