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Sophie has $800 in a saving account that earns 5% interest per year. The interest is not compounded. How much will she have in 1 year

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Answer:

If Sophie has $800 in a saving account that earns 5% interest per year and the interest is not compounded, then after one year she will have $840 in her account. This is because 5% of $800 is $40, and when we add this to the initial amount of $800, we get $840.

In general, if a saving account earns x% interest per year and the initial amount in the account is y dollars, then after one year the account will have y + (x/100) * y dollars. For example, if the interest rate is 5% and the initial amount is $800, then the final amount would be $800 + (5/100) * $800 = $840.

Explanation:

User Harneet Singh
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