Answered step by step
Verified Expert Solution
Question
1 Approved Answer
$1000 dollars is compounded yearly at a rate of 10% for 3 years how much interest is accrued ? A. 300 dollars B. 331 dollars
$1000 dollars is compounded yearly at a rate of 10% for 3 years how much interest is accrued ?
A. 300 dollars
B. 331 dollars
C. 1331 dollars
or
D. 1349 dollars
what is the correct answer ?
thank you
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started