Question

Aldo put $400 into a savings account that paid an interest rate of 5.4% per year. What was the total amount in his account at the end of 1 year.

Answer 1

Aldo had $421.60 in his account at the end of 1 year. 400 x 5.4% = $21.6 in interest from one year. $400 + $21.60 = $421.60