Zach has $400 in a savings account that earns 5 % interest per year. The interest is not compounded. How much interest will he 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. $_____

Identify Details: Step 1: Identify the principal amount, interest rate, and time. Zach has $400 in his savings account, the interest rate is 5%, and the time is 1 year. Calculation: Principal (p) = $400, Interest rate (r) = 5% or 0.05 as a decimal, Time (t) = 1 year.Calculate Interest: Step 2: Use the formula i = prt to calculate the interest. Calculation: i = 400 * 0.05 * 1.Find Total Interest: Step 3: Perform the multiplication to find the interest. Calculation: i = 400 * 0.05 * 1 = $20.

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Zach has $\$400$ in a savings account that earns $5\%$ interest per year. The interest is not compounded. How much interest will he 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. Zach has

\$400

in a savings account that earns

5\%

interest per year. The interest is not compounded. How much interest will he 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

\$

\_\_\_\_

Identify Details: Step $1$ : Identify the principal amount, interest rate, and time. $\newline$ Zach has $\$400$ in his savings account, the interest rate is $5\%$ , and the time is $1$ year. $\newline$ Calculation: Principal ( $p$ ) = $\$400$ , Interest rate ( $r$ ) = $5\%$ or $0.05$ as a decimal, Time ( $t$ ) = $1$ year.
Calculate Interest: Step $2$ : Use the formula $i = prt$ to calculate the interest. $\newline$ Calculation: $i = 400 \times 0.05 \times 1$ .
Find Total Interest: Step $3$ : Perform the multiplication to find the interest. $\newline$ Calculation: i = $400 \times $0$ . $05$ \times $1$ = \$(\(20$)\.