Adam has $2350 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 2350
=
10100 x 2350
= $235
(b)
Amount that he will have in his bank account after a year
= 2350 + 235
= $2585
Answer(s): (a) $235; (b) $2585