Mathematics, 23.04.2021 23:50 KindaSmartPersonn
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Since he was born, Joel’s grandmother sent him $100 on his birthday. His parents encouraged him to save the money every year in an account that paid 3% interest annually. On his 10th birthday, he calculated he would have $1,000 plus the interest which he calculated to be $30.00 (3% of $100 every year). But when the bank statement arrived his balance was $150 more than he expected! Which statement describes why he had accumulated more than expected?
A. He should have calculated the interest on $1,000 for 10 years.
B. His calculations were incorrect because 3% of $100.00 is more than $3.00.
C. He forgot to convert the decimal to scientific notation before multiplying.
D. He did not consider that every year the interest paid and the new deposit was added to the amount that earned interest.
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