posted by kayla .
Enrique put $300 dollars into a savings account at 5% interest per year. The earned interest on the $300 was added to the account at the end of the year. At the time Enrique made an additional deposit of $200. How much does have in his account?
GED-Word Problems -
The problem isn't clear as to when the additional $200 is added. If at the end of the first year,
interest on $300 = 300 x 0.05 = $15.00.
300 + 15 = 315.00 from the original deposit + $200 from the additional. Total is $515.00 if I interpreted the problem correctly.