Question

Let's say $250 is deposited into a bank account. The money earns $5.00 interest in 1 year. What is the balance in the account after 1 year?

Answer 1

Answer: $255

Interest is the amount added after money sits overtime, hence gaining value. If that account originally had 250, and is set to make 5 dollars each year, then the account would have 5 more dollars. Meaning the account would have 255.

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Answer 2

Answer: $255

Explanation:

250+5.00 = 255