3 years ago

Principal = $450 rate = 5% time = 4 years simple interest = compound interest =

Mathematics

2 answers:

AnnZ [28]3 years ago

6 0

Answer:

Simple interest=90

Compound interest=96.98

Step-by-step explanation:

Simple interest=p×r×t

Simple interest=450×0.05×4=90

Compound interest=future value-principal

Future value=principal (1+r)^t

Future value=450×(1+0.05)^(4)=546.98

Compound interest=546.98-450=96.98

Feliz [49]3 years ago

3 0

Answer:

Simple interest: $540

Compound interest: $546.98 (if compounded annually)

Step-by-step explanation:

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