Stephen places £950 in a bank account that pays 1.6% simple interest per year. a) How much interest will he earn each year? b) How much will he have in his account after 1 year?

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asked Jan 1, 2022 187k views

20 votes

Stephen places £950 in a bank account that pays 1.6% simple interest per year.

a) How much interest will he earn each year?

b) How much will he have in his account after 1 year?

Mathematics
high-school

Branchverse asked

by Branchverse

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1 Answer

12 votes

a) 15.20
b) 965.2

i hope this is right (^^)

Manan Mehta answered Jan 4, 2022

by Manan Mehta

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