Question

A principal of $450 is deposited in an account that pays 2.5% interest compounded yearly. Find the account balance after 3 years rounded to the nearest cent.

Answer 1

A = P(1+r/n)^(n*t)

A = 450(1+0.025/1)^(1*3)

A = ??

Tell me what you get

Answer 2

450+11.25(3)

Answer 3

do you have a calculator?

Answer 4

no

Answer 5

do i need one

Answer 6

yes you do, but you can use google as a calculator

type "450(1+0.025/1)^(1*3)" without quotes into google and tell me what result you get

Answer 7

i got a big number

Answer 8

tell me what you got