Question

Help!! If anyone could help, I’ll give Brainly! :) thank you so much

Answer 1

9514 1404 393

Answer:

  $50

Step-by-step explanation:

The compounding period is 1 year, and the period of concern is 1 year. This means the simple interest formula will tell the answer to the question.

  I = Prt

  I = ($5000)(0.01)(1) . . . . . r = annual rate; t = years

  I = $50

The interest earned in the account is $50.