Lauren deposited $3,000 into a savings account with an annual interest rate of 0.75%. She made no deposits or withdrawals for 3 years. If interest was compounded annually,

which equation represents the balance in the account after 3 years?

A = 3000 (1 + 0.0075) ^3

A = 3000 (1 - 0.0075) ^3

A = 3000 (1 + 0.075) ^3

A = 3000 (1 + 0.75) ^3

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22 June, 02:40

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Thalia · Answer 1

The upper one is correct. Because 0,75% = 0,0075 (:10) and since the interest rate is positive it has to be 1 + ...