Adam has $1750 in his bank account.
The bank pays him an annual interest of 8%.
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
= 8% x 1750
=
8100 x 1750
= $140
(b)
Amount that he will have in his bank account after a year
= 1750 + 140
= $1890
Answer(s): (a) $140; (b) $1890