Alicia deposited $450 into a savings account earning 3.75% interest. How much interest will she earn in6 years? Explain. Write the simple interest formula
I is interest and y is years I = 450[tex] 1.0375^{y} [/tex] Therefore, I(6) = 450 * [tex] 1.0375^{6} [/tex] = 561.230346741 Which is $111.23 in interest
