Adam has $2000 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 2000
=
8100 x 2000
= $160
(b)
Amount that he will have in his bank account after a year
= 2000 + 160
= $2160
Answer(s): (a) $160; (b) $2160