Question

Percy has $50 in a savings account. The interest rate is 10% per year and is not compounded. How much will he have in 1 year?

Answer 1

70

Explanation:

just doubled

Answer 2

Explanation:

Take the 50 and multiply by 1.1 (this is 10% if you dont want to go .1 and add that to 50)

50*1.1=x

50*1.1=55

There will be a total of 55 Dollars in the savings account. He has earned 5 dollars in interest.

Hope This helps :)