Question

Benjamin invests $400 in a savings account that earns 5% interest each

year.
Which expression gives the balance in the account after 3 years?

Answer 1

So first we need to find out what 5% of 400 is, we are gonna say we are on a calculator alright? So what we do is divide 0.05 by 400 and that equals 20. So after 3 years it would be 460$!