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Toby has $400\$400 in a savings account that earns 10%10\% interest per year. The interest 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. Toby has $400\$400 in a savings account that earns 10%10\% interest per year. The interest 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 Amount, Rate, Time: Step 11: Identify the principal amount, interest rate, and time.
  2. Convert Rate to Decimal: Step 22: Convert the interest rate from a percentage to a decimal.
  3. Use Formula i=prti = prt: Step 33: Use the formula i=prti = prt to calculate the interest.
  4. Calculate Interest: Step 44: Perform the multiplication to find the interest.

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