Question

Dalton has $44,759 in a savings account that earns 9% annually. The interest is not compounded. How much will he have 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 a years.

Answer 1

Answer: total amount after 1 year will be 44759 + 4028.31 = 48,787.31

Step-by-step explanation:

SI = prt / 100

= 44759 x .09 x 1

= 4028.31