John deposited $500 in a savings account at an annual interest rate of 5%. If John does not deposit or withdraw any money, what is the amount of interest John will earn in 10 years?

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asked Oct 7, 2022 160k views

21 votes

John deposited $500 in a savings account at an annual interest rate of 5%. If John does not deposit or withdraw any money, what is the amount of interest John will earn in 10 years?

Mathematics
middle-school

Hugtech asked

by Hugtech

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1 Answer

4 votes

Answer:

The answer is 250 in interest.

Explanation:

I=prt, I=(500)(0.05)(10)

Jafelds answered Oct 12, 2022

by Jafelds

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