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Percy has $800\$800 in a savings account. The interest rate is 10%10\% per year and is not compounded. How much interest will he earn in 11 year? Use the formula i=prti = prt, where ii is the interest earned, pp is the principal (starting amount), rr is the interest rate expressed as a decimal, and tt is the time in years. $\$_____

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Q. Percy has $800\$800 in a savings account. The interest rate is 10%10\% per year and is not compounded. How much interest will he earn in 11 year? Use the formula i=prti = prt, where ii is the interest earned, pp is the principal (starting amount), rr is the interest rate expressed as a decimal, and tt is the time in years. $\$_____
  1. Identify Principal Amount, Rate, Time: Step 11: Identify the principal amount, interest rate, and time.\newlinePercy has $800\$800 in his savings account, the interest rate is 10%10\%, and the time is 11 year.\newlineConvert the interest rate from a percentage to a decimal by dividing by 100100.\newlineCalculation: 10%/100=0.110\% / 100 = 0.1
  2. Use Formula to Calculate Interest: Step 22: Use the formula i=prti = prt to calculate the interest.\newlineSubstitute p=$800p = \$800, r=0.1r = 0.1, and t=1t = 1 into the formula.\newlineCalculation: i=800×0.1×1i = 800 \times 0.1 \times 1
  3. Perform Multiplication to Find Interest: Step 33: Perform the multiplication to find the interest.\newlineCalculation: i=800×0.1×1=$(80)i = 800 \times 0.1 \times 1 = \$(80)

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