Question

Matt has $90 in a savings account that earns 10% annually. The interest is not compounded. How much interest will he earn in 1 year?

Answer 1

He will earn 9$ annually.

Explanation:

To find his earning we will put the numbers in the the exponential equation y=a+(b+c)^x

A=90

B=1.10 (you always add 1 to your percentage when it is positive)

C=0

X=1

Y=90+(1.1)^1

Y=9