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Allie has $400\$400 in a savings account that earns 5%5\% interest per year. The interest is not compounded. How much interest will she earn in 11 year? Use the formula i=prti = prt, where ii is the interest earned, pp is the principal (starting amount), rr is the interest rate expressed as a decimal, and tt is the time in years. $\$_____

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Q. Allie has $400\$400 in a savings account that earns 5%5\% interest per year. The interest is not compounded. How much interest will she earn in 11 year? Use the formula i=prti = prt, where ii is the interest earned, pp is the principal (starting amount), rr is the interest rate expressed as a decimal, and tt is the time in years. $\$_____
  1. Identify Principal Amount: Step 11: Identify the principal amount pp from the problem.p=$400p = \$400
  2. Convert Interest Rate: Step 22: Convert the interest rate rr from a percentage to a decimal.r=5%=0.05r = 5\% = 0.05
  3. Determine Time in Years: Step 33: Determine the time (tt) in years for which the interest is calculated.\newlinet=1t = 1 year
  4. Calculate Interest Using Formula: Step 44: Use the formula i=prti = prt to calculate the interest.\newlinei=400×0.05×1i = 400 \times 0.05 \times 1
  5. Perform Multiplication: Step 55: Perform the multiplication to find the interest. i=400×0.05×1=20i = 400 \times 0.05 \times 1 = 20

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