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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?
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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?

User LauraTheExplorer
by
3.4k points

2 Answers

2 votes

Answer:

$510

Explanation:

500/100= 5/1

meaning for 1% if 5 dollars

5+5+500=

510

User Lusc
by
3.7k points
2 votes

Answer:

510 dollars

Explanation:

1% of 500 is

User Chuck Krutsinger
by
3.2k points
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