Adam has $2250 in his bank account.
The bank pays him an annual interest of 4%.
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
= 4% x 2250
=
4100 x 2250
= $90
(b)
Amount that he will have in his bank account after a year
= 2250 + 90
= $2340
Answer(s): (a) $90; (b) $2340