SOLUTION: Amy has $81,000 in a savings account that earns 5% annually. The interest is not compounded. How much interest will she earn in 1 year?

SOLUTION: Amy has $81,000 in a savings account that earns 5% annually. The interest is not compounded. How much interest will she earn in 1 year?

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Question 1154643: Amy has $81,000 in a savings account that earns 5% annually. The interest is not compounded. How much interest will she earn in 1 year?
Answer by ikleyn(52858) (Show Source): You can put this solution on YOUR website!
.


The interest in 1 year is 0.05*81000  dollars.


Use your calculator.

Such an account (with no compounding) is called "a simple interest account".

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See the lesson
- Simple interest percentage problems
in this site.

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