Question

Suppose $1000 is deposited in an account earning 5% a and annual interest-rate if the money is left undisturbed what will be the balance of the account in the next 10 years

Answer 1

Its very simple you see, you have 1000 and you need to first find what the 5% is so you multiply 1000 by 0.05 and you will get the annual interest rate which is 50. Then you multiply 50x10 and you will get 500 so just add that to the 1000 and you will have 1500