Compute the amount of interest earned in the following simple interest problem. A deposit of 4,500 at 5% for 3 years
1 answer:
4,500 x .05 = 4275
4,275 x .05 = 4061.25
4,061.25 x .05 = 3858.1875
answer is 3,858.18
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Step-by-step explanation:
Answer:
$624,000
Step-by-step explanation:
100-4 = 96
96/100 = 0.96
650,000 x 0.96 = 624,000
= $624,000
