Question

Correct answers only please!

Marie has $50 in a savings account. The interest rate is 10% per year and is not compounded. How much interest will she earn in 1 year?

Use the formula i = prt, where i is the interest earned, p is the principal (starting amount), r is the interest rate expressed as a decimal, and t is the time in years.

Answer 1

$5

Explanation:

Use the given formula

I = P × R × t

I = 50 × 10/100 × 1

I = $5

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