Ayana has $400 in a savings account that earns 10% interest per year. The interest is not compounded. How much will she have in total 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. $_____
Q. Ayana has $400 in a savings account that earns 10% interest per year. The interest is not compounded. How much will she have in total 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 to a decimal. 10% as a decimal is 0.10. Calculation: 10%/100=0.10
Calculate interest earned: Step 2: Use the formula i=prt to find the interest earned in one year.p=$400, r=0.10, t=1. Calculation: i=400×0.10×1=$40
Find total amount: Step 3: Add the interest earned to the principal to find the total amount.Total amount = Principal + InterestCalculation: $400+$40=$440