Suresh invest 45015 in a fixed deposit account which has an interest rate of 4% per year how much money will Suresh have in the account after 1 year
To calculate the amount of money Suresh will have in the account after 1 year, we need to calculate the interest earned on the fixed deposit.
Interest = Principal * Rate of Interest = 45015 * 4% = 45015 * 0.04 = 1800.6
The amount of money Suresh will have in the account after 1 year is the sum of the principal and the interest earned:
Amount = Principal + Interest = 45015 + 1800.6 = 46815.6
Therefore, Suresh will have $46,815.60 in the account after 1 year.