Lily has $30 in a savings account. The interest rate is 10 % per year and 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. To convert 10% to a decimal, divide by 100. Calculation: 10 ÷ 100 = 0.1Calculate Interest: Step 2: Use the formula i = prt to calculate the interest. Substitute p = $30, r = 0.1, and t = 1 year into the formula. Calculation: i = 30 * 0.1 * 1Find Total Interest: Step 3: Perform the multiplication to find the interest. Calculation: 30 * 0.1 * 1 = 3

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Lily has $\$30$ in a savings account. The interest rate is $10\%$ per year and 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. Lily has

\$30

in a savings account. The interest rate is

10\%

per year and 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. $\newline$ To convert $10\%$ to a decimal, divide by $100$ . $\newline$ Calculation: $10 \div 100 = 0.1$
Calculate Interest: Step $2$ : Use the formula $i = prt$ to calculate the interest. $\newline$ Substitute $p = \$30$ , $r = 0.1$ , and $t = 1$ year into the formula. $\newline$ Calculation: $i = 30 \times 0.1 \times 1$
Find Total Interest: Step $3$ : Perform the multiplication to find the interest. $\newline$ Calculation: $30 \times 0.1 \times 1 = 3$