contestada

Kevin has deposited money into a savings account. Choose the correct terms to complete each sentence. Kevin deposits $100 into a savings account today. This is his . In one year, Kevin’s money earns 5 percent. The $5 he earns is . In one year’s time, Kevin’s money is worth $105. This is his . The interest Kevin earns in the first year will also earn interest in subsequent years. This is called .

Respuesta :

Answer

In series, the answer of 'this is his' is:

  1. Principal Amount
  2. Interest
  3. Total amount
  4. Compound interest

Explanation:

  1. Kevin deposit $100 in a savings bank account, this is his principal. Principal is the initial amount that a person deposit in his account.
  2. Kevin's money earn 5 percent. the $5 he earn is the interest. Interest is the earning that a person earn on the overall amount deposited.
  3. Kevin's money worth is $105, this is his total accrued amount. Acquired amount= Principal + Interest
  4. The interest Kevin earn in first year is the interest in subsequent years. this is called compound  interest.

Otras preguntas