Question

If $1,000 is deposited into a savings account offering 11% interest paid annually , approximately how much money will be in the account in 10 years?

12,100
11,000
3,123
1,227

Answer 1

I think the answer would be $1,227.

Explanation:

$1,000 x 0.11 = 110

110 x 10=1,100

So, I'm guessing you would round it up. I'm sorry if this is the wrong answer.