Question

Brett has $50 in a savings account. The interest rate is 10% per year and is not compounded. What is the amount of interest in one year? ( I = prt ) *

Answer 1

$5 interest

Explanation:

I=prt

I=50*0.1*1

I=50*0.1

I=5

So Brett will make $5 worth of interest in 1 year