Question

Jeremy has $5,400 in his savings account. Ifthe bank pays 4.5% interest per year on savings, how much interest does he earn in one year

Answer 1

92. Jeremy has 5 400 dollars in his savings account. The bank pays 4.5% interest per year on his savings. Let’s solve for the interest that he earned in one year. => 5 400 dollars = his total saving in his account => 4.5% = interest rate which is equals to .045 => 5 400 dollars * .045 = 243 dollars => 5 400 dollars + 243 dollars = 5 643 dollars is the total money in his account after the annual interest rate.

Answer 2

92. Jeremy has 5 400 dollars in his savings account. The bank pays 4.5% interest per year on his savings. Let’s solve for the interest that he earned in one year. => 5 400 dollars = his total saving in his account => 4.5% = interest rate which is equals to .045 => 5 400 dollars * .045 = 243 dollars => 5 400 dollars + 243 dollars = 5 643 dollars is the total money in his account after the annual interest rate.