Question

Mateo has $500 in a savings account that earns 1% annually. The interest is not

compounded. How much will he have in total in 2 years?

Answer 1

$510

Explanation:

500/100= 5/1

meaning for 1% if 5 dollars

5+5+500=

510

Answer 2

510 dollars

Explanation:

1% of 500 is