Question

A savings account pays 4 1/2% interest. How much interest
will be earned on $450 in 3 years? How much money will
be in the account in 3 years?


i already know the answer i just need help solving it help!!!

Answer 1

Answer: Amount in account after 3 years $513.52

Interest accrued in 3 years is $63.52

Step-by-step explanation:

450 x 4.5% = 20.25

Add to balance 20.25 + 450 = 470.25

470.25 x 4.5% = 21.16

Add to balance 21.16+470.25=491.41

491.41 x 4.5% = 22.11

Add to balance 22.11 + 491.41 = 513.52