ling has $91,000 in a savings account. the interest rate is 9% per year and is not compounded. how much will…

ling has $91,000 in a savings account. the interest rate is 9% per year and is not compounded. how much will she 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.

ling has $91,000 in a savings account. the interest rate is 9% per year and is not compounded. how much will she 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.

Answer

Explanation:

Step1: Convert interest rate to decimal

$r = 9%=0.09$

Step2: Calculate the interest earned

Using the formula $i = prt$, with $p = 91000$, $r = 0.09$, and $t = 4$. $i=91000\times0.09\times4$ $i = 91000\times0.36$ $i = 32760$

Step3: Calculate the total amount

The total amount $A=p + i$. $A=91000 + 32760$ $A = 123760$

Answer:

$123760$