Adam has $2250 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 2250
=
8100 x 2250
= $180
(b)
Amount that he will have in his bank account after a year
= 2250 + 180
= $2430
Answer(s): (a) $180; (b) $2430