Question

Can anyone explain me the steps I have to do to get my answer ?

Answer 1

3.4% in decimal form is .034 = r
2014 - 2004 = 10 years = t

A = 45,000(1+.034)^10
A= 62,866

Answer 2

Multiply 45000 by 3.4% or 0.034 that equals 1530 * 10 = 15300 add it to 45000 =60300

A=45000(1+3.4%)