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Sagot :
Answer:
The amount of money you'll have at the end of the years is 6460 dollars
Step-by-step explanation:
The total principal sum of money deposited = [tex]3400[/tex] dollars
The annual rate of interest is [tex]4.5[/tex] %
The time period for which the amount is invested [tex]= 20[/tex] years
As we know
[tex]A = P (1 + rt)[/tex]
where A is the amount after 20 years
P is the principal sum of money
r is the rate of interest and
t is time period in years
Substituting the given values in above equation, we get -
[tex]A = 3400 (1 + \frac{4.5}{100} * 20)\\A = 6460[/tex]dollars
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