Question

If $1,200 is invested in an account that earns 4.5% interest per year, how muchmoney will be in the account after 6 years?

Answer 1

$\begin{gathered} \text{Interest}=\frac{Prin\text{icipal}\times rate\times time}{100} \\ I=\frac{1200\times4.5\times6}{100} \\ I=324 \\ \text{The money in the account is.} \\ \text{Money}=P+I \\ \text{Money}=1200+324 \\ \text{Money}=\text{ \ 1524} \end{gathered}$