Question

You put $800 into an investment at 7% for three years. What will the balance be at the end of three

years?

Answer 1

$980.03

Explanation:

$800 x 0.07 = $56

($800 + $56) x 0.07 = $59.92

($856 + $59.92) x 0.07 = $64.11

$856 + $59.92 + $64.11 = $980.03