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02-10-2018
Mathematics

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A retiree invests 3,000 in a savings plan that pays 3% per year. What will the account balance be at the end of the first year

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Аноним Аноним

08-10-2018

Interest earned = rate charged × amount invested

Interest = 3/100 × $3000 = $90

Account balance after one year = Amount invested + Interest earned

Account balance after one year = $3000 + $90 = $3090

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