36.9k views
20 votes
If a man has $1500 in the bank and the annual interest rate is 5%, how much money will he have in the bank after 1 year?

User Amir Iqbal
by
5.2k points

1 Answer

10 votes

Answer:

5/100×$1500= 75 dollar

as it is annual income we can solve the answer relative to year and considering it as 1 so the interest would be 75 annually

User AlexQueue
by
5.1k points