Chris's Bank Account

Algebra Level 1

Chris put $1,500 in a savings account at an annual interest rate of 5%. If Chris does not deposit or withdraw any money, what is the amount of interest Chris will earn the first year her money is in the savings account?

$80 $10 $75 $15

Z K by Z K , 21, USA

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4 solutions

Anand Shah
Mar 19, 2014

1500*5/100...thus we can get the answer $75

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Z K
Mar 15, 2014

If you liked this questions try Sandi's Apples

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Terry McTerrier
Mar 14, 2014

To find the interest that Chris earned:

1500 x 0.05 = 75

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Z K
Mar 14, 2014

This problem is simple Chris gets 5% of 1500 for a year of keeping her money in the account. 5% of 1500 is 75 dollars. Therefore 75 is how much money she earns.

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