Answer: $80
Explanation:
If Tyrone's savings account earns a simple 10% annual interest and is not compounded, then the interest for one year can be calculated using the formula:
Interest = Principal × Rate × Time
where:
Principal = $800
Rate = 10% = 0.1
Time = 1 year
Interest = $800 × 0.1 × 1 = $80
Tyrone will earn $80 in interest in 1 year. To find the total amount in his account after 1 year, we add the interest to the principal:
Total amount = Principal + Interest
Total amount = $800 + $80 = $880
In 1 year, Tyrone will have $880 in total in his savings account.