Adam has $1150 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 1150
=
10100 x 1150
= $115
(b)
Amount that he will have in his bank account after a year
= 1150 + 115
= $1265
Answer(s): (a) $115; (b) $1265