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Dominic has $900 in a savings account.The interest rate is 5% per year and is not compounded . How much interest will he earn in 1 year?

Dominic has $900 in a savings account.The interest rate is 5% per year and is not compounded . How much interest will he earn in 1 year?
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5 votes
Dominic has $900 in a savings account.The interest rate is 5% per year and is not compounded . How much interest will he earn in 1 year?

User Mark Hurd
by
8.7k points

1 Answer

3 votes

Answer:

I = $900(.05) = $45

Dominic will earn $45 interest.

User Rono
by
8.5k points
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