Question

trent has $900 in a savings account that earns 11% interest per year. the interest is not compounded. how much interest will he 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.

Explanation:

Step1: Identify values for p, r, t

Principal \( p = 900 \), rate \( r = 11\% = 0.11 \), time \( t = 1 \) year.

Step2: Apply simple interest formula \( i = prt \)

Substitute values: \( i = 900 \times 0.11 \times 1 \)
Calculate: \( 900 \times 0.11 = 99 \), so \( i = 99 \)

Answer:

\( \$99 \)