Math  /  Algebra

Question5. If Jen puts $1,000\$ 1,000 in a savings account with an annual interest rate of 5%5 \%, how much interest will she earn in two years? A. $50\$ 50 B. $75\$ 75 C. $100\$ 100 D. $150\$ 150

Studdy Solution
Calculate the total interest for two years by multiplying the interest for one year by the number of years:
Total Interest for 2 years=$50×2=$100 \text{Total Interest for 2 years} = \$50 \times 2 = \$100
The total interest Jen will earn in two years is:
$100 \boxed{\$100}

View Full Solution - Free
Was this helpful?

Studdy solves anything!

banner

Start learning now

Download Studdy AI Tutor now. Learn with ease and get all help you need to be successful at school.

ParentsInfluencer programContactPolicyTerms
TwitterInstagramFacebookTikTokDiscord