Suppose you deposit $275.00 in your savings account on December 31.

Your bank pays 3 percent annual interest on savings accounts. If you do not
deposit any more money into the account, what would be the balance on
December 31 of the following year?

2 answers

275 * 1.03 = ?

283.25

Ask a New Question or answer this question.

Similar Questions

Suppose you deposit $1,500 in a savings account that pays interest at an annual rate of 5%. If no money is added or withdrawn
1. 1 answer
Suppose you deposit$2,000 in a savings account that pays interest at an annual rate of 4%. If no money is added or withdrawn,
1. 1 answer
If your bank pays 5.5 percent interest on savings deposits, what is the simple interest paid in the third year on an initial
1. 1 answer
Tara's bank account contains $250.00. She made only one deposit exactly one year ago. The bank account pays a simple interest
1. 3 answers