SOLUTION: if you deposit 4500 in an account that earns 3.5% annual interest, whats the balance after one year if the interest is compounded annually? also monthly and quarterly?

Algebra ->  Rational-functions -> SOLUTION: if you deposit 4500 in an account that earns 3.5% annual interest, whats the balance after one year if the interest is compounded annually? also monthly and quarterly?      Log On


   

Question 443411: if you deposit 4500 in an account that earns 3.5% annual interest, whats the balance after one year if the interest is compounded annually? also monthly and quarterly?
Answer by rfer(16322) About Me  (Show Source):
You can put this solution on YOUR website!
A=4500(1+0.035)
A=4657.50
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A=4500(1+0.035/12)^12
A=4500(1.0029)^12
A=4500*1.03536
A=4659.12
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You do the last one.