Mason has $1,000 in a savings account that earns 10 % annually. The interest is not compounded. How much interest will he 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. $_____

Identify Amount, Rate, Time: Step 1: Identify the principal amount, interest rate, and time. Mason has $1,000 in his savings account, the interest rate is 10%, and the time is 1 year. Convert the interest rate from a percentage to a decimal by dividing by 100: 10% / 100 = 0.1.Use Formula i = prt: Step 2: Use the formula i = prt to calculate the interest. Plug in the values: i = $1,000 * 0.1 * 1.Calculate Interest: Step 3: Perform the multiplication to find the interest. i = $1,000 * 0.1 * 1 = $100.

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Mason has $\$1,000$ in a savings account that earns $10\%$ annually. 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. $\newline$ $\$$ $\_\_\_\_$

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Q. Mason has

\$1,000

in a savings account that earns

10\%

annually. 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

\$

\_\_\_\_

Identify Amount, Rate, Time: Step $1$ : Identify the principal amount, interest rate, and time. $\newline$ Mason has $\$1,000$ in his savings account, the interest rate is $10\%$ , and the time is $1$ year. $\newline$ Convert the interest rate from a percentage to a decimal by dividing by $100$ : $10\% / 100 = 0.1$ .
Use Formula $i = prt$ : Step $2$ : Use the formula $i = prt$ to calculate the interest. Plug in the values: $i = (\$1,000) \times 0.1 \times 1$ .
Calculate Interest: Step $3$ : Perform the multiplication to find the interest. $\newline$ $i = \$1,000 \times 0.1 \times 1 = \$100$ .