What would be the difference at the end of one year between the simple interest earned on a deposit of $450 at 4.5% and the compound interest earned on $450 at 4.5% compounded annually?

$22.50

$22.25

$0

$20.25

$0

Step-by-step explanation:

The formula for simple interest is expressed as

I = PRT/100

Where

P represents the principal

R represents interest rate

T represents time in years

I = interest after t years

From the information given

T = 1 year

P = $450

R = 4.5%

Therefore

I = (450 × 4.5 × 1)/100

I = 2025/100

I = 20.25

For compound interest,

Initial amount deposited into the account is $450 This means that the principal,

P = 450

It was compounded annually. This means that it was compounded once in a year. So

n = 1

The rate at which the principal was compounded is 4.5%. So

r = 4.5/100 = 0.045

It was compounded for just a year. So

t = 1

The formula for compound interest is

A = P(1+r/n)^nt

A = total amount in the account at the end of t years. Therefore

A = 450 (1+0.045/1)^1×1

A = 450(1.045) = $470.25

Compound interest = 470.25 - 450 = 20.25

The difference is 20.25 - 20.25 = 0

answer: sorry but i need points

step-by-step explanation:

not only in mathematics, scientific proof also are required in the other field of science. also maths proofs are of particular structure, containing steps and logics. so proving is like doing science, it is science. that's why it is important to prove. 

an inaccurate proof leads to errors, or stating results that are not accurate.  which wil mess the probelm up you dont want this