you deposit 572.34 in an acount that pays 4.5% interest.how much interest do you earn after 6 years
To calculate the interest earned, we can use the formula:
interest = principal x rate x time
Where:
- principal = $572.34
- rate = 4.5% or 0.045 (in decimal form)
- time = 6 years
Plugging in these values, we get:
interest = $572.34 x 0.045 x 6 = $154.07
Therefore, you would earn $154.07 in interest after 6 years.