percent

This has several routes you can take to solve it but I will give you the one I prefer.

The first year you will get 3% of the 4650......(4650/100)*3=139.50
The 2nd year is 3% of the new total ((4650+139.50)/100)*3=.....

If you continue to follow this process of adding the previous year plus interest you will get to the total of 8 years.

First you would take 4650 and then multiply it by (3/100). it would look like: 4650 * (3/100).Then you take the answer to that, which is $139.50, which is the annual interest, and multiply that by 8 because that's how many years it specified. that should bring you at$1116, and then add it to the original sum, since it asked you his total amount of money, which will give you your answer of 5766.

If someone deposits $4650 in a bank that gives 3% interest compound annually, how much money will that person have after 8 years?

"Alternate routes" as the right idea.

S = P * (1 + i ) ⁿ

where S is the future value
P is the principle which is the initial value = $4650
i is the interest rate in the compounding period (written as a fracion) = 0.03
n is the number of compounding period = 8

Dear If someone deposits $4650 in a bank that gives 3% interest compound annually, how much money will that person have after 8 years?