If you put $100 in a savings account with an interest rate of 2% per year and left the money in the account for five years, how
much money would be in the account after five years?
1 answer:
Answer:
$510
Step-by-step explanation:
Formula for calculating money with simple interest: principle money × interest rate with 100% × period of time
Total amount of money = 100 × × 5
= 510
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