Omar has $200 in a savings account that earns 10% annually. The interest is not compounded. How much will he 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. Omar has $200 in a savings account that earns 10% annually. The interest is not compounded. How much will he 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 annual interest rate from a percentage to a decimal.Calculation: 10%=0.10
Calculate Interest Earned: Step 2: Use the formula i=prt to calculate the interest earned in one year.Calculation: i=200×0.10×1
Calculate Total Amount: Step 3: Calculate the total amount in the account after one year by adding the interest earned to the principal.Calculation: Total = 200+(200×0.10)