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QuizMultiple Choice

Compound Interest

Question 1 • 26-27 Ignite Technical Math-Financial Math - MA2007

A principal of $4,570 is placed in an account that earns 4.5% interest. If the interest is compounded annually, how much money will be in the account at the end of 5 years?a.$4654.15b.$4775.65c.$5638.75d.$5695.05

Answer
A
A
B
B
C
C
D
D
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A principal of $4,570 is placed in an account…