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Mathematics

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Albert has $30 in a savings account that earns 5% interest per year.The interest is not compounded. How much will he have in 1 year?

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emmie10 emmie10

Today at 9:33 AM

He will earn $1.50 because 30x0.05=1.5

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porterriddle porterriddle

Today at 9:33 AM

He would have $31.5 after one year. If you multiply 30 by 1.05 (which represents 5% interest) you get 31.5

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