Answer:
Explanation:
To calculate the simple interest earned on a principal of $1000 with an interest rate of 9% and a time period of one year, we can use the formula:
I = P * r * t
where I is the simple interest earned, P is the principal, r is the interest rate (expressed as a decimal), and t is the time period (in years).
Substituting the given values, we get:
I = $1000 * 0.09 * 1
I = $90
Therefore, the simple interest earned on a principal of $1000 with an interest rate of 9% and a time period of one year is $90.