An deposited $100 in a savings account that offers a 5% interest rate. How much interest will he eam after 1 year? A. $5

Question

An deposited $100 in a savings account that offers a 5% interest rate. How much interest will he eam after 1
year?

A. $5
B. $50
C. $105
D. $500

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Savannah 1 week 2021-09-15T02:21:34+00:00 2 Answers 0

Answers ( )

    0
    2021-09-15T02:22:45+00:00

    The answer would be a think about it like this 10 percent of 100 is obviously 10 so just cut that in half and it would be five

    0
    2021-09-15T02:23:11+00:00

    Answer is A. $5 if it is just the interest itself!
    Equation: I=P • r • t
    P is the principle amount aka $100
    r is the rate aka %5 or .05
    t is the time in years aka 1

    So to get the simple interest, use this equation: P=100•0.05•1
    Which then equals your answer, $5!

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