Answer:
$7, 657
Step-by-step explanation:
Compound interest is calculated by multiplying the initial principal amount by one plus the annual interest rate raised to the number of compound periods minus one. The total initial amount of the loan is then subtracted from the resulting value.
He had $450 dollars in his savings account. If 1/6 is equal to 75, you will multiply 75 by 6 to get the full amount, which is $450. I hope this helps!
This is a Reflection :) Have a great day !
