ninjakidghosttt ninjakidghosttt

05-11-2018
Mathematics

contestada

Carmen has 100$ in a savings account that earns 5% annually. The interest is not compounded. How much interest will she earn in 1 year?

Respuesta :

gummiesmith gummiesmith

05-11-2018

Answer: 5$

$100 x 0.05 = 5$

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altavistard altavistard

05-11-2018

Answer:

$5

Step-by-step explanation:

Use the formula for simple interest:

i = p*r*t, where r is the annual interest rate, expressed as a decimal fraction, p is the initial amount (principal), and t is the number of years.

Here, i = $100*0.05*1 = $5

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