Question

1. which equation represents the total interest, t, earned when the principal amount is $100, the annual simple interest rate is 1%, and the number of years is 10? solve.

a. $t = 100 \bullet (10 + 0.1)$
c. $t = 100 \bullet 0.1 \bullet 10$
b. $t = 100 \bullet (10 + 0.01)$
d. $t = 100 \bullet 0.01 \bullet 10$
opened a bank account that earns simple interest with an initial deposit of $2
transactions throughout the year. at the end of the year, mika
in her account. what was the simple interest rate?

Explanation:

Step1: Recall simple interest formula

The simple interest formula is $T = P \cdot r \cdot t$, where $P$ = principal, $r$ = annual interest rate (decimal), $t$ = time in years.

Step2: Identify given values

$P = 100$, $r = 1\% = 0.01$, $t = 10$

Step3: Substitute values into formula

$T = 100 \cdot 0.01 \cdot 10$

Step4: Calculate the interest

$T = 100 \cdot 0.01 \cdot 10 = 10$

Answer:

D. $T = 100 \bullet 0.01 \bullet 10$
The total interest earned is $\$10$