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maxine deposited $1000 into an account that pays 4.5% interests, compounded daily. at the end of six months, she has earned $12 in interests true or false?

User Marboni
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2 Answers

5 votes
You have to first change the percent to a decimal form, then you multiply 1000 x 0.045 x 0.5 = 22.5. Don't forget time is always in years or decimal form. Your answer would be False.

Hope this helps,
♥Nikki♥
User Lorris Lin
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5 votes
false because 1000-4.5% is 955 and 955 -1000 is 45 not 12
User Xah Lee
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