Welcome to Bytelearn!

Let’s check out your problem:

Colin has $\$80$ in a savings account that earns $5\%$ interest per year. The interest is not compounded. How much interest will he 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$$\$$_____