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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!!!!
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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!!!!

User Beyeran
by
5.8k points

1 Answer

4 votes
$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
User Anibal
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