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4 March, 04:42

Jane deposited $10,000 into her bank account in December, 2010. Her account earns interest at a rate of 3% compounded monthly. How much money will she have in December of this year (2018) ? Round your answer to the nearest whole number.

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  1. 4 March, 06:37
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    10,000 (amount deposited) x. 03 (percent) = 300. 300 x 12 (because there are 12 months in a year) = 3,600. So she will have $3,600 by December from interest rate.
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