9514 1404 393
Answer:
$50
Step-by-step explanation:
The compounding period is 1 year, and the period of concern is 1 year. This means the simple interest formula will tell the answer to the question.
I = Prt
I = ($5000)(0.01)(1) . . . . . r = annual rate; t = years
I = $50
The interest earned in the account is $50.
