Question

Mr.perkins has $120 in a savings account .the interest rate is 5% per year and it is not compounded how much will he have in 2 years

Answer 1

$132

5 percent of $120 is 6, 6*2 = 12

Answer 2

how much will he have in 2 years

Capital____120

Interest_____12

Final Value_132

Explanation:

Cf = Capital final

Ci = Capital inicial

i = Tasa de interés

n = Número de períodos

I = C·i·t

Savinga account_120

Interest_________5%

n______________2

Comppound ____no

I=120*5%*2

I=12

Capital____120

Interest_____12

Final Value_132