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3 years ago

6

if you deposit 4500 at 5% annual interest compounded annually how much money will be in the account after 30 months

1 answer:

Alja [10]3 years ago

8 0

Answer:

A = $ 50,978.44

Step-by-step explanation:

First, convert R percent to r a decimal

r = R/100

r = 5%/100

r = 0.05 per year,

Then, solve our equation for A

A = P(1 + r/n)nt

A = 45,000.00(1 + 0.004166667/12)(12)(2.5)

A = $ 50,978.44

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<h2> $\bf \purple{ \underline{To \: Find :- }}$ </h2>

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$\huge\bf \purple{ \underline{Solution :- }}$

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