Billy deposits $800 in a local bank. He knows his money will be increased by 5% at the end of 1 year. How much money will he have at that time?

$840

$880

$882

$1,680

Question

Angel Roberson

26 March, 12:13

+4

Answers (2)

Know the Answer?

Davion Matthews · Answer 1

Answer is $840

$800 * 0.05 * 1 = $40 ... interest

$800 + $40 = $840

Destinee Pineda · Answer 2

Basic math, of interest. He starts with 800 and gains 5% each year. 5% of 800 is 40.

800 + 40 = 840.

Billy deposits $800 in a local bank. He knows his money will be increased by 5% at the end of 1 year. How much money will he have at that time?$840$880$882$1,680