Aradiamegid0 Aradiamegid0

17-02-2022
Mathematics

contestada

If Buddy invests $500 in a savings account that pays 2% interest. How much interest will he make after 5 years?

PLS HELP FAST

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vipblobfree22 vipblobfree22

17-02-2022

Answer: At the end of 5 years, your savings will have grown to $552.

You will have earned in $52.04 in interest.

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mhanifa mhanifa

17-02-2022

Answer:

$50

Step-by-step explanation:

Assumed it is a simple interest.

2% for 5 years is:

2% * 5 = 10%

10% on $500 is:

$500*10/100 = $50

Answer Link

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