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Mario has $100 in a savings account. The interest rate is 5% per year and is not compounded. How much interest will he earn in 1 year?

Mario has $100 in a savings account. The interest rate is 5% per year and is not compounded. How much interest will he earn in 1 year?
asked 41.8k views
4 votes
Mario has $100 in a savings account. The interest rate is 5% per year and is not compounded. How much interest will he earn in 1 year?

asked
User Greg Dietsche
by
8.4k points

1 Answer

6 votes
(5/100)*$100 = $5.00 . . . . Mario's interest amount
answered
User Bioz Nguyen
by
8.3k points
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