Question

Lee has $800 in a savings account that earns 10% annually the interest is not compounded how much interest will he earn in one year

Answer 1

`~~~~~~ \textit{Simple Interest Earned} \\\\ I = Prt\qquad \begin{cases} I=\textit{interest earned}\\ P=\textit{original amount deposited}\dotfill & \$800\\ r=rate\to 10\%\to (10)/(100)\dotfill &0.10\\ t=years\dotfill &1 \end{cases} \\\\\\ I = (800)(0.1)(10) \implies I = 80`