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If the APY of savings account is 4.7% and if the principal in the savings account is $4500 for an entire year what will the balance of the savings account after all the interest is paid for the year?
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4 votes
If the APY of savings account is 4.7% and if the principal in the savings account is $4500 for an entire year what will the balance of the savings account after all the interest is paid for the year?

User Yassi
by
8.2k points

2 Answers

4 votes

Answer:

$4711.50

Explanation:

Apex

User Lordcheeto
by
8.7k points
4 votes
Total = 4,500 * (1.047)^1
Total = 4,711.50


User Sharad Yadav
by
8.0k points
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