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18-10-2020
Mathematics

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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?

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18-10-2020

Answer:

275 * 0.03 = accrued interest

accrued interest + initial deposit = total after one year

Step-by-step explanation:

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