Question

Sam deposits $1,000 in his savings account which will earn 2.5% interest. How much interest will Sam have earned after 2 years? *

Answer 1

Answer: $50, The account will have $50 in interest after 2 years.

Step-by-step explanation:

2.5% / 100 = 0.025

$1,000 * .025 = 25

25 * 2 = 50