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Jacob has $100 in his savings account. The interest rate is 5% per year. How much interest will he earn in 1 year?​

Jacob has $100 in his savings account. The interest rate is 5% per year. How much interest will he earn in 1 year?​
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11 votes
Jacob has $100 in his savings account. The interest rate is 5% per year. How much interest will he earn in 1 year?​

asked
User Mete Atamel
by
8.1k points

1 Answer

7 votes
Answer: $5


5% of 100 is 5, so it would be $5

Hope this helps! :)
answered
User Stefan Luv
by
8.2k points
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