What is the yearly amount of $3,000 with 8% compounded annually for a year

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asked Nov 24, 2017 221k views

1 Answer

Jurion · Answer 1 · 2017-11-27T16:28:14+0000

If you would like to solve 8% of $3,000, you can do this using the following steps:

8% * $3,000 = 8% * 3,000 = 8/100 * 3,000 = 8 * 30 = $240

The correct result would be $240.

What is the yearly amount of $3,000 with 8% compounded annually for a year

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