Jayla has $60 in a savings account. The interest rate is 10% per year and is not compounded. How much interest will she earn in 5 years? PLEASE HELP!!!!

Question

asked Jun 16, 2022 203k views

1 Answer

Anibal · Answer 1 · 2022-06-21T10:30:06+0000

$360 dollars she will earn in 5 years.
Solution:
10% of $60 is $6 dollars and you multiply by 12 months ( 6 x 12 = $72 (in one year) x 5 years = $360