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An initial amount of $800 is invested in a compound savings account with an annual interest rate of 4.5%. Using the formula what is the balance after five years? $836.00 $873.62…

An initial amount of $800 is invested in a compound savings account with an annual interest rate of 4.5%. Using the formula what is the balance after five years? $836.00 $873.62…
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An initial amount of $800 is invested in a compound savings account with an annual interest rate of 4.5%. Using the formula what is the balance after five years? $836.00 $873.62 $980.00 $996.95

User Naomie
by
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2 Answers

1 vote

Answer:

996.95

Explanation:

i got this correct

User Nadeem Ullah
by
8.8k points
3 votes
800x(1+0.045^(5)= $996.95 HOPE THIS IS CORRECT!
User LauraTheExplorer
by
7.9k points
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