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Popular Word Problems >

Ellie has 50 in a savings account.The interest rate is10% per year and is not compounded.How much interest will she earn in 3 years?

Solution

Ell i e ha s 50 in a s a v in g s a cco u n t . T h e in t eres t r a t e i s 10% p er ye a r an d i s n o t co m p o u n d e d . Ho w m u c h in t eres t w i ll s h e e a r n in 3 ye a rs ?

Solution

Interest : 15

Solution steps

Translate the problem into an equation:

I = 50 \cdot 0.1 \cdot 3

Simplify

I = 50 \cdot 0.1 \cdot 3

Interest : 15

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