Mathematics for IGCSE & O level - Percentages (Section 3 - No. 14)
Craig puts $240 into a savings account that earns compound interest of 6% annually. What will his savings be worth after 3 years?
$285.00
$285.74
$285.65
$300.00
Explanation
Use the formula A = P(1 + r/100)^n. A = 240(1 + 6/100)^3 = $285.74
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