1. if $1000 is invested at an annual compound interest rate of 5% for 3 years, what is the total accumulated…

1. if $1000 is invested at an annual compound interest rate of 5% for 3 years, what is the total accumulated amount?\na. $1100\nb. $1150\nc. $1050\nd. approximately $1157.63

1. if $1000 is invested at an annual compound interest rate of 5% for 3 years, what is the total accumulated amount?\na. $1100\nb. $1150\nc. $1050\nd. approximately $1157.63

Answer

Explanation:

Step1: Recall compound - interest formula

The compound -[SSE Completed, Client Connection Error][SSE Completed, Client Connection Error][LLM SSE On Failure]