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Bruce has $1,000 in a savings account that earns 10% annually. The interest is not compounded. How much interest will he earn in 1 year?
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Bruce has $1,000 in a savings account that earns 10% annually. The interest is not compounded. How much interest will he earn in 1 year?

User Tupui
by
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1 Answer

6 votes
Answer:

1. Count 10% of $1,000:

100%-1000 then
10%-100

2. Add:

1000+100 = 1,100

Answer: He’ll get 100$ (In total he’ll have 1,100$)
User Vadym K
by
8.4k points
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