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21 November, 07:37

Encouraged by his investment, Joseph decides to open another CD account. This time, he deposits $1,000 and plans to leave it

untouched for 3 years. In exchange, the bank will pay him 0.3% interest every month. How much will be in the account when the 3

years have passed?

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  1. 21 November, 07:50
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    Answer: $10,800

    Step-by-step explanation:

    $1000 * 30% = $300

    y = 300x + 1000

    12 * 3 = 36

    y = 300 (36) + $1000

    y = $10,800

    There will be $10,800 in the account when the three years have passed.
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