Question

Diane has $200 in a savings account that earns 10% annually. The interest is not

compounded. How much will she have in total in 1 year?
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

`~~~~~~ \textit{Simple Interest Earned} \\\\ I = Prt\qquad \begin{cases} I=\textit{interest earned}\\ P=\textit{original amount deposited}\dotfill & \$200\\ r=rate\to 10\%\to (10)/(100)\dotfill &0.10\\ t=years\dotfill &1 \end{cases} \\\\\\ I = (200)(0.10)(1) \implies I = 20~\hfill \underset{total~amount~in~savings}{\stackrel{200~~ + ~~20}{\text{\LARGE 220}}}`

Answer 2

$ 220

Explanation:

i = prt = 200 * .1 * 1 = 20 dollars interest

add in her original deposit of 200 for a total of 220 dollars