If Daniel has $30 in a savings account that earns 5% annually and the interest is not compounded,then he will get $33 after 2 years.
Given that Daniel has $30 in a savings account that earns 5% annually and the interest is not compounded.
We are required to find the amount of money that Daniel will get after 2 years.
Since the amount is not compounded so interest will be same in all years as if in the first year.
The interest will be 2*30*0.05=3
The total amount including interest=30+3
=$33
Hence if Daniel has $30 in a savings account that earns 5% annually and the interest is not compounded,then he will get $33 after 2 years.
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