Question

maxine deposited $1000 into an account that pays 4.5% interests, compounded daily. at the end of six months, she has earned $12 in interests true or false?

Answer 1

False because 1000-4.5% is 955 and 955 -1000 is 45 not 12

Answer 2

You have to first change the percent to a decimal form, then you multiply 1000 x 0.045 x 0.5 = 22.5. Don't forget time is always in years or decimal form. Your answer would be False.

Hope this helps,
♥Nikki♥