What is the yearly amount of $3,000 with 8% compounded annually for a year

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10-08-2016
Mathematics

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What is the yearly amount of $3,000 with 8% compounded annually for a year

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Neuron Neuron · Answer 1 · 2016-08-23T21:12:32+02:00

Neuron Neuron

23-08-2016

If you would like to solve 8% of $3,000, you can do this using the following steps:

8% * $3,000 = 8% * 3,000 = 8/100 * 3,000 = 8 * 30 = $240

The correct result would be $240.

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