Question

john has $100,000 in a savings account that earns 10% interest per year. the interest is not compounded. how much will he have in total in 3 years? 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.

Explanation:

Step1: Identify given values

$p = \$100,000$, $r = 0.10$, $t = 3$

Step2: Calculate earned interest

$i = prt = 100000 \times 0.10 \times 3$

Step3: Compute total account value

$\text{Total} = p + i$

Answer:

$\$130,000$