You deposit $100 in a savings account. The account earns 11% simple interest per year.

Mathematics

1 answer:

Gnesinka [82]3 years ago

5 0

Answer:

Step-by-step explanation:

<h3>principle ( p ) = $100</h3><h3>time ( t ) = 10 years </h3><h3>rate ( r ) = 11%</h3><h3>simple interest = (p × r × t)÷ 100</h3><h3> = ( $100 × 11 × 10 )÷ 100</h3><h3> = 11000 ÷ 100</h3><h3> = $110</h3>

<h3>interest = simple interest - principle </h3><h3>interest = $110 - $100</h3><h3> = $10</h3>

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