Question

Cora has $50 in a savings account.The interest rate is 10% per year and is not compounded. How much interest will she earn in 1 year?

Answer 1

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➷ Find the multiplier for this:

1 + 0.1 = 1.1

50 x 1.1 = 55

Subtract 50 from this value:

55 - 50 = 5

She will earn $5 in 1 year

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