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

Answer 1

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.