Question
Jim put in $5,000 I a savings account. At the end of the year the account had earned $400 interest what is the yearly percentage
Answers
GPT 3.5
To calculate the yearly percentage earned on the savings account, we can use the formula:
Interest earned / Initial amount deposited = Percentage
$400 / $5,000 = 0.08
Therefore, the yearly percentage earned on the savings account is 8%.
Interest earned / Initial amount deposited = Percentage
$400 / $5,000 = 0.08
Therefore, the yearly percentage earned on the savings account is 8%.