Question

If you put $5000 in a savings account that
pays 2% annual interest, the amount
of money you will have at the end of the year
is?

Answer 1

Answer:

$5100.

Step-by-step explanation:

2% annual interest is the same as multiplying a number by 0.02, then adding that number to the original number. Using this information, we can do the following steps:

1. 5000 x 0.02 = 100
2. 5000 + 100 = 5100

You will have $5100 at the end of the year.

Answer 2

Answer:

$5100

Step-by-step explanation:

$5000 is put into the account originally. If you multiply this number by 0.02 you will get your answer. All the best. -Crispin