SOLUTION: You deposit $450 in an account earning 3% interest compounded annually. How much will you have in the account in 7 years?

Algebra ->  Customizable Word Problem Solvers  -> Finance -> SOLUTION: You deposit $450 in an account earning 3% interest compounded annually. How much will you have in the account in 7 years?       Log On

Ad: Over 600 Algebra Word Problems at edhelper.com


    

Question 715789:
You deposit $450 in an account earning 3% interest compounded annually. How much will you have in the account in 7 years?
Answer by checkley79(3341) About Me  (Show Source):
You can put this solution on YOUR website!
450(1+.03)^7
450*1.03^7
450*1.23=$553.44 ANS.