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Bernard has $40 in a savings account that earns 10% annually. The interest is not compounded. How much will he have in total in 5 years?

Bernard has $40 in a savings account that earns 10% annually. The interest is not compounded. How much will he have in total in 5 years?
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5 votes
Bernard has $40 in a savings account that earns 10% annually. The interest is not

compounded. How much will he have in total in 5 years?

User Orchidrudra
by
7.7k points

1 Answer

0 votes
He will have $60 in 5 years.

Explanation:

40 • 0.10 = 4

4(5) = 20

40 + 20 = 60
User ZaneDarken
by
8.5k points
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