Tori has $600 in a savings account that earns 10% annually. The interest is not compounded. How much interest will she earn in 1 year? Use the formula i=prt, where i is the interest earned, p is the principal (starting amount), r is the interest rate expressed as a decimal, and t is the time in years.$_____
Q. Tori has $600 in a savings account that earns 10% annually. The interest is not compounded. How much interest will she earn in 1 year? Use the formula i=prt, where i is the interest earned, p is the principal (starting amount), r is the interest rate expressed as a decimal, and t is the time in years.$_____
Convert to Decimal: Step 1: Convert the interest rate from a percentage to a decimal.Calculation: 10%=0.10
Calculate Interest: Step 2: Use the formula i=prt to calculate the interest.Calculation: i=600×0.10×1
Perform Multiplication: Step 3: Perform the multiplication to find the interest.Calculation: i=600×0.10×1=60