Question

Suppose you deposit $450 into a savings account that pays 4.3% annual interest. How much will you have in the account after 3 years if no money is added or withdrawn?
A. $745
B. $680
C. $510
D. $630

Answer 1

100% + 4.3% =104.3 450x1.043squared = 510 Therefore ans is 510

Answer 2

F=p(1+rt),,,f=450(1+4.3%*3)=??