The interest rate at bank is 5% per year.
Lara has $2000.
How long will She have to keep her money on the bank to
interest?
Work out.
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Answer:
How much interest can you earn on $1,000? If you're able to put away a bigger chunk of money, you'll earn more interest. Save $1,000 for a year at 0.01% APY, and you'll end up with $1,000.10. If you put the same $1,000 in a high-yield savings account, you could earn about $5 after a year.
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