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20 November, 05:22

Principal = $450

rate = 5%

time = 4 years

simple interest =

compound interest =

+3
Answers (2)
  1. 20 November, 05:42
    0
    Simple interest: $540

    Compound interest: $546.98 (if compounded annually)
  2. 20 November, 06:56
    0
    Simple interest=90

    Compound interest=96.98

    Step-by-step explanation:

    Simple interest=p*r*t

    Simple interest=450*0.05*4=90

    Compound interest=future value-principal

    Future value=principal (1+r) ^t

    Future value=450 * (1+0.05) ^ (4) = 546.98

    Compound interest=546.98-450=96.98
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