Question

greta has $80,000 in a savings account that earns 4% interest per year. the interest is not compounded. how much will she have in total in 5 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

$p = 80000$, $r = 0.04$, $t = 5$

Step2: Calculate earned interest

$I = prt = 80000 \times 0.04 \times 5$

Step3: Compute total account value

$\text{Total} = p + I$

Answer:

$\$96000$