Adam has $1750 in his bank account.
The bank pays him an annual interest of 6%.
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
= 6% x 1750
=
6100 x 1750
= $105
(b)
Amount that he will have in his bank account after a year
= 1750 + 105
= $1855
Answer(s): (a) $105; (b) $1855