Answer:$461.31
Step-by-step explanation: This question is about compound interest. The formula for compound interest is A = P(1 + r/n)^(nt), where:
- A is the amount of money accumulated after n years, including interest.
- P is the principal amount (the initial amount of money).
- r is the annual interest rate (in decimal).
- n is the number of times that interest is compounded per year.
- t is the time the money is invested for in years.
In this case, Jeremiah invests $450 (P = 450), the annual interest rate is 2.7% or 0.027 (r = 0.027), the interest is compounded monthly (n = 12), and the time is 1 year (t = 1).
