Question

James had $ 6500 in a bank account that paid 4% interest at the end of each year. How much money did Mr. James have in his account at the end of 1 year ?

$6700

$ 6760

$ 6750

$6775​

Answer 1

6760

Explanation:

4% of 6500

= (6500 x 4) ÷ 100

= 26000 ÷ 100

= 260 $

6500 + 260 = 6760$

Answer 2

He would have $6,760 in his account after year one.
Do 6,500*0.04=260
6,500+260=6,760