Ask Question
2 August, 06:08

Principal = $450

rate = 5%

time = 4 years

simple interest =

compound interest =

+2
Answers (2)
  1. 2 August, 08:30
    0
    Simple interest: $540

    Compound interest: $546.98 (if compounded annually)
  2. 2 August, 09:56
    0
    Simple interest=90

    Compound interest=96.98

    Step-by-step explanation:

    Simple interest=p*r*t

    Simple interest=450*0.05*4=90

    Compound interest=future value-principal

    Future value=principal (1+r) ^t

    Future value=450 * (1+0.05) ^ (4) = 546.98

    Compound interest=546.98-450=96.98
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Principal = $450 rate = 5% time = 4 years simple interest = compound interest = ...” in 📘 Mathematics if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers