tessa has $90,000 in a savings account that earns 7% annually. the interest is not compounded. how much will…

tessa has $90,000 in a savings account that earns 7% annually. the interest is not compounded. how much will she have in total in 2 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.

tessa has $90,000 in a savings account that earns 7% annually. the interest is not compounded. how much will she have in total in 2 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: Identify values for p, r, t

Principal ( p = 90000 ), rate ( r = 7% = 0.07 ), time ( t = 2 ).

Step2: Calculate interest (I) using ( I = prt )

( I = 90000 \times 0.07 \times 2 ) ( I = 90000 \times 0.14 ) ( I = 12600 )

Step3: Calculate total amount (A = p + I)

( A = 90000 + 12600 ) ( A = 102600 )

Answer:

( $102600 )