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.

Question

Craig Lamb

Business

18 October, 23:51

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.

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Adriana Costa · Answer 1

Answer

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

Principal Amount Interest Total amount Compound interest

Explanation:

Kevin deposit $100 in a savings bank account, this is his principal. Principal is the initial amount that a person deposit in his account. 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. Kevin's money worth is $105, this is his total accrued amount. Acquired amount = Principal + Interest The interest Kevin earn in first year is the interest in subsequent years. this is called compound interest.