Question

Please help asap! Correct answers only!

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.

Round your answer to the nearest cent.

Answer 1

$98100

Explanation:

Using the given formula :

I = P × R × T

I = 90000 × 3/100 × 3

I = $8100

He saves = 8100 + 90000 = $98100

Answer 2

Explanation:

i=prt

p=principal=$90,000

r=3%=0.03 annual

t=3 years

i=90,000×0.03×3=8100 $