Register

Dominic has $900 in a savings account.The interest rate is 5% per year and is not compounded . How much interest will he earn in 1 year?

Dominic has $900 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 226k views
5 votes
Dominic has $900 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 Mark Hurd
by
8.7k points

1 Answer

3 votes

Answer:

I = $900(.05) = $45

Dominic will earn $45 interest.

answered
User Rono
by
8.5k points
← Prev Question Next Question →

No related questions found

Ask a Question
Welcome to Qamnty — a place to ask, share, and grow together. Join our community and get real answers from real people.

Categories

Other Questions

How do you can you solve this problem 37 + y = 87; y =
What is .725 as a fraction
A bathtub is being filled with water. After 3 minutes 4/5 of the tub is full. Assuming the rate is constant, how much longer will it take to fill the tub?
Link Copied!