SOLUTION: Suppose Tom places $3000 in an account that pays 9%interest compounded each year . Find the amount in the account at the end of the year

SOLUTION: Suppose Tom places $3000 in an account that pays 9%interest compounded each year . Find the amount in the account at the end of the year

Algebra.Com

Question 1126257: Suppose Tom places $3000 in an account that pays 9%interest compounded each year . Find the amount in the account at the end of the year
Answer by Boreal(15235) (Show Source): You can put this solution on YOUR website!
this is 3000*(1+.09)^1 or 3000(1.09) or $3270.
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