dollars in a savings account. At the end of one year, she earned an interest of 5%. How much interest did she earn?
To find the interest earned, we can calculate 5% of the principal amount.
Interest = Principal * Rate
In this case, the principal amount is $7,000 and the interest rate is 5%, or 0.05.
Interest = $7,000 * 0.05 = $350
Therefore, Anne earned $350 in interest at the end of the year.
anne invested 7,000
1 answer
1 answer