Adam has $1450 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 1450
=
10100 x 1450
= $145
(b)
Amount that he will have in his bank account after a year
= 1450 + 145
= $1595
Answer(s): (a) $145; (b) $1595