Mathematics, 26.02.2021 07:30 journey888

You deposited $1,500 in a savings account that pays 3% interest annually, compounded monthly. After one year, your balance is $1,545.62. What is your rate of return for one year? 3%
1.03%
3.04%
0.03%

Answers: 3

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More questions: Mathematics Another questions

You deposited $1,500 in a savings account that pays 3% interest annually, compounded monthly. After one year, your balance is $1,545.62. What is your rate of return for one year? 3% 1.03% 3.04% 0.03%

Answers

Another question on Mathematics

You deposited $1,500 in a savings account that pays 3% interest annually, compounded monthly. After one year, your balance is $1,545.62. What is your rate of return for one year? 3%
1.03%
3.04%
0.03%