Question

Dakota has $700 in a savings account that earns 7% interest per year. The

interest is not compounded. How much interest will she earn in 1 year?
Use the formula /= prt, where i is the interest earned, p is the principal (starting
amount), r is the interest rate expressed as a decimal, and it is the time in years.
$749
$707
$49
$490

Answer 1

to find the interest amount=7/100

so interest rate in decimal is 0.07

formula=prt

=$700*0.07*1

=$49

the answer is $49