mia saves $900 in an account that earns 1% simple interest annually. how much interest does she earn after 5…
mia saves $900 in an account that earns 1% simple interest annually. how much interest does she earn after 5 years? interest = $? hint: i = prt
Answer
Explanation:
Step1: Identify the values of P, R, and T
$P = 900$, $R=0.01$ (since 1% = 0.01), $T = 5$
Step2: Apply the simple - interest formula
$I=PRT$ $I=900\times0.01\times5$ $I = 45$
Answer:
$45$