Mona has $100 in a savings account that earns 5 % annually. The interest 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. $_____

Calculate Principal Amount: Calculate the principal amount Mona has in her savings account. Principal (p) = $100 Determine Annual Interest Rate: Determine the annual interest rate as a decimal. Interest rate (r) = 5% = 0.05 Identify Time Period: Identify the time period in years for which the interest is calculated. Time (t) = 1 year Use Formula to Calculate Interest: Use the formula i = prt to calculate the interest earned in one year. Interest (i) = p * r * t = 100 * 0.05 * 1 = $5

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Mona has $\$100$ in a savings account that earns $5\%$ annually. The interest 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. Mona has

\$100

in a savings account that earns

5\%

annually. The interest 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

\$

\_\_\_\_\_

Calculate Principal Amount: Calculate the principal amount Mona has in her savings account. Principal $p$ = $\$100$
Determine Annual Interest Rate: Determine the annual interest rate as a decimal. $\newline$ Interest rate $r$ = $5\%$ = $0.05$
Identify Time Period: Identify the time period in years for which the interest is calculated. Time $t = 1$ year
Use Formula to Calculate Interest: Use the formula $i = prt$ to calculate the interest earned in one year. $\newline$ Interest ( $i$ ) = $p \times r \times t = 100 \times 0.05 \times 1 = \$(5)$