Adam has $2450 in his bank account.
The bank pays him an annual interest of 10%.
He does not deposit any more money.
- What is the interest after a year?
- How much will he have in his bank account after a year?
(a)
Interest after a year
= 10% x 2450
=
10100 x 2450
= $245
(b)
Amount that he will have in his bank account after a year
= 2450 + 245
= $2695
Answer(s): (a) $245; (b) $2695