Addison has $500 in a savings account that earns 5 % interest per year. The interest is not compounded. How much interest will she earn in 1 year? Use the formula i = prt, where i is the interest earned, p is the principal (starting amount), r is the interest rate expressed as a decimal, and t is the time in years. $_____

Convert to Decimal: Step 1: Convert the interest rate from a percentage to a decimal. Calculation: 5% = 0.05Calculate Interest: Step 2: Use the formula i = prt to calculate the interest. Calculation: i = 500 * 0.05 * 1Find Total Interest: Step 3: Perform the multiplication to find the interest. Calculation: i = 500 * 0.05 * 1 = 25

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Addison has $\$500$ in a savings account that earns $5\%$ interest per year. The interest is not compounded. How much interest will she earn in $1$ year? $\newline$ Use the formula $i = prt$ , where $i$ is the interest earned, $p$ is the principal (starting amount), $r$ is the interest rate expressed as a decimal, and $t$ is the time in years. $\newline$ $\$$ $\_\_\_\_$

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Q. Addison has

\$500

in a savings account that earns

5\%

interest per year. The interest is not compounded. How much interest will she earn in

1

year?

\newline

Use the formula

i = prt

, where

i

is the interest earned,

p

is the principal (starting amount),

r

is the interest rate expressed as a decimal, and

t

is the time in years.

\newline

\$

\_\_\_\_

Convert to Decimal: Step $1$ : Convert the interest rate from a percentage to a decimal. $\newline$ Calculation: $5\% = 0.05$
Calculate Interest: Step $2$ : Use the formula $i = prt$ to calculate the interest. $\newline$ Calculation: $i = 500 \times 0.05 \times 1$
Find Total Interest: Step $3$ : Perform the multiplication to find the interest. $\newline$ Calculation: $i = 500 \times 0.05 \times 1 = 25$