SOLUTION: You deposit $500 in account paying 4.5% interest compounded annually. Find the dollar value of the account rounded to the nearest penny after 10 years.

SOLUTION: You deposit $500 in account paying 4.5% interest compounded annually. Find the dollar value of the account rounded to the nearest penny after 10 years.

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Question 456950: You deposit $500 in account paying 4.5% interest compounded annually. Find the dollar value of the account rounded to the nearest penny after 10 years.
Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
A=500(1.045)^10
A=$776.48
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