SOLUTION: Tessah as $80 in a savings account that earns 5% annually.The interest is not compounded.How much interest will she earn in 1 year?

Algebra ->  Customizable Word Problem Solvers  -> Finance -> SOLUTION: Tessah as $80 in a savings account that earns 5% annually.The interest is not compounded.How much interest will she earn in 1 year?      Log On

Ad: Over 600 Algebra Word Problems at edhelper.com


    

Question 1062204: Tessah as $80 in a savings account that earns
5%
annually.The interest is not compounded.How much interest will she earn in 1 year?
Answer by stanbon(75887) About Me  (Show Source):
You can put this solution on YOUR website!
Tessah has $80 in a savings account that earns 5%
annually.
The interest is not compounded.How much interest will she earn in 1 year?
----------------
I = P*r*t
Interest = 80*0.05*1 = 0.8*5 = $4.00
--------------
Cheers,
Stan H.
------------