Question

Which equation represents the total interest, T, earned when the principal amount is 100 $, the annual simple interest rate is 1%, and the number of years is 10

Answer 1

The total interest after 10 years is $10.

Explanation:

Formula

`Simple\ interest = (Principle* Rate* Time)/(100)`

As given

when the principal amount is $100, the annual simple interest rate is 1%, and the number of years is 10.

Principle = $100

Rate = 1%

Time = 10 years

Simple interest = T

Put in the formula

`T = (100* 1* 10)/(100)`

`T = (1000)/(100)`

T = $10

Therefore the total interest after 10 years is $10.