SOLUTION: $1500 is deposited in an account earning 4.5% annual interest. If the money earns simple interest and remains in an account for 5 years, how much will be in the account at the end

Question 1071993: $1500 is deposited in an account earning 4.5% annual interest. If the money earns simple interest and remains in an account for 5 years, how much will be in the account at the end of 10 years.
Answer by ankor@dixie-net.com(22740) (Show Source): You can put this solution on YOUR website!
$1500 is deposited in an account earning 4.5% annual interest.
If the money earns simple interest and remains in an account for 5 years,
A = 1500*1.045^5
A = $1869.27
how much will be in the account at the end of 10 years.
A = 1500*1.045^10
A = $2329.45
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