You deposit $4500 in an account that earns 2% per year simple interest. The
1 answer:
Answer:
based on the given formula the amount calculated is for the beginning of the year.
substituting 1 you get 4500 which is beginning of the year 1 when you deposited.
based on that logic substituting 7 for beginning of year 7 will be
4500 + 6 * 0.02 * 4500
4500 + 540
5040
option A.
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