Beatrice total → deposit + interest collected
Beatrice deposit → $50 000
interest collected → 2% x $50 000 = $1000
total → 50 000 + 1000 = $51 000
Question 6a
Video explanation ↓Beatrice deposited $50 000 in Bank A which paid her an interest of 2% per year. Charlie deposited $40 000 in Bank B which paid him an interest of 3% per year. How much would Beatrice have in her account at the end of one year? (1 mark)
Answer: $ 51000