kiera has $11,851 in a savings account. the interest rate is 11% per year and is not compounded. how much…

kiera has $11,851 in a savings account. the interest rate is 11% per year and is not compounded. how much will she have in total 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.

kiera has $11,851 in a savings account. the interest rate is 11% per year and is not compounded. how much will she have in total 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.

Answer

Explanation:

Step1: Identify values for formula

$p = 11851$, $r=0.11$ (since $11%= 0.11$), $t = 1$

Step2: Calculate interest

$i=prt=11851\times0.11\times1 = 1303.61$

Step3: Calculate total amount

The total amount $A=p + i$. So $A=11851+1303.61=13154.61$

Answer:

$13154.61$