Work out the balance for 600 invested for 3 years at 4.5 per annum

The balance when $600 is invested for 3 years at 4.5 % p. a will be obtained using the formula:

A=P (1+r/100) ^t

where:

P=principle

r=rate

t=time

thus plugging in the values in the formula we get:

A=600 (1+4.5/100) ^3

A=600 (1.045) ^3

A=$684.7

Answer: $684.7