Answered

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Maria deposited 1200 in savings account for 5 years. The

interest rate is 4. 5%. What will be total balance in her account

after 5 years.


Sagot :

Calcaeidn

Answer:

compound interest would be,

1495.91

and simple interest would be,

1470

Step-by-step explanation:

compound interest would look like,

1200 x 1.045 x 1.045 x 1.045 x 1.045 x 1.045

and simple interest would look like,

1200 x 0.045 = 54 = 4.5%

54 x 5 = 270

1200 + 270 = 1470

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