Register
Tanner has 80$ in an savings account. The interest rate is 10% and is not compounded. How much interest will he earn in 1 year?
65.7k views
0 votes
Tanner has 80$ in an savings account. The interest rate is 10% and is not compounded. How much interest will he earn in 1 year?

User Kelvinji
by
5.1k points

1 Answer

3 votes

Answer:

$8

Explanation:

The formula for simple interest is i = p*r*t, where r is the interest rate as a decimal fraction.

Here, i = $80*0.10*1 = $8

User Rotem Jackoby
by
6.1k points
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

6.2m questions

8.2m answers

Other Questions

Solve using square root or factoring method plz help!!!!.....must click on pic to see the whole problem
giles is searching for a sock and discovers that he has 10 socks for every 5 pairs of shoes. if he has 20 socks how many pair of shoes does he have
Hiroto’s texting plan costs $20 per month, plus $0.05 per text message that is sent or received. Emilia’s plan costs $10 per month and $0.25 per text. Using the graph below, which statement is true? A)
WILL UPVOTE EVERY ANSWER! MULTIPLE CHOICE! Solve for Y. 8-8y=2y+78 A)y=7 B)y=70 C)y=-7 D)y=-70
Can someone help ?? I wasn't here for the lesson
Link Copied!