Question

ryan has $300 in a savings account that earns 8% annually. the interest is not compounded. how much will he have in total in 4 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: Define given values

$p = 300$, $r = 0.08$, $t = 4$

Step2: Calculate earned interest

$i = prt = 300 \times 0.08 \times 4$
$i = 96$

Step3: Find total account value

$\text{Total} = p + i = 300 + 96$

Answer:

$396$