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Komok [63]
2 years ago
11

Rachel has $80 in a savings account.The interest rate is 10%per year and is not compounded. How much interest will she earn in 1

year?​
Mathematics
1 answer:
erma4kov [3.2K]2 years ago
5 0

Answer:

I = $ 8.00

Equation:

I = Prt

Step-by-step explanation:

First, converting R percent to r a decimal

r = R/100 = 10%/100 = 0.1 per year,

then, solving our equation

I = 80 × 0.1 × 1 = 8

I = $ 8.00

The simple interest accumulated

on a principal of $ 80.00

at a rate of 10% per year

for 1 years is $ 8.00.

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