Question

Evan has $70 in a savings account. The interest rate is 5% per year and is not
compounded. How much will he 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

Answer:

$73.5

Step-by-step explanation:

i=5%×$70×1

=$3.5

amount at end of 1 yr=$70+$3.5

=$73.5