Question

Shane has $400 in a savings account that earns 9% annually.The interest is not compounded.How much interest will he earn in 2years? 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.

Answer 1

I = PRT
I = (400)(0.09)(2)
I = 72

$72

Answer 2

Shane js going to earn $72 because
p= 400
r= 0.09
and t= 2

so multiplying all those together gets you $72