Question

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

Answer 1

996.95

Explanation:

i got this correct

Answer 2

800x(1+0.045^(5)= $996.95 HOPE THIS IS CORRECT!