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A woman has $450 in a bank account. She earns 5% interest on her end-of-month balance. How much interest will she earn for the month?
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A woman has $450 in a bank account. She earns 5% interest on her end-of-month balance.

How much interest will she earn for the month?

User Cedric Beust
by
5.4k points

1 Answer

5 votes

Answer:

Total Money: $472.50 Amount earned from Interest: $22.50

Explanation:

$450 * 1.05 = $472.50 = Total Money

$472.50 - $450 = $22.50 = Money Earned from Interest

User Roshil K
by
6.1k points
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