Question

Sandra has $20 in a savings account that earns 5% annually. The interest
is not compounded. How much will she have 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 1

20*5%= 20* 0.05=1 , and 1 year= 365 days, so 1 *355=$355 in one year I think, but I’m not sure how to use the formula

Answer 2

Answer: 1

Step-by-step explanation:

20 × 0.05 = 1

Hope this helps!!! Good luck!!! ;)