Question

If you put $5000 in a savings account that

pays 2% annual interest, the amount
of money you will have at the end of the year
is?

Answer 1

$5100

Explanation:

$5000 is put into the account originally. If you multiply this number by 0.02 you will get your answer. All the best. -Crispin

Answer 2

$5100.

Explanation:

2% annual interest is the same as multiplying a number by 0.02, then adding that number to the original number. Using this information, we can do the following steps:

1. 5000 x 0.02 = 100
2. 5000 + 100 = 5100

You will have $5100 at the end of the year.