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Austen has $20 in a savings account that earns 5% annually. The interest is not compounded. How much interest will he earn in 1 year?

Austen has $20 in a savings account that earns 5% annually. The interest is not compounded. How much interest will he earn in 1 year?
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3 votes
Austen has $20 in a savings account that earns 5% annually. The interest is not

compounded. How much interest will he earn in 1 year?

User Gxc
by
8.4k points

1 Answer

4 votes

20x(5/100)=1

That is the interest after one year

Add to the principal:20+1=21

User Dylan Russell
by
7.9k points
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