3 answers
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so what is 10% of 500?
You have the formula, and t=1, so just plug and chug.
Gwen has $500 in a savings acct that earns 10%interest per year. The interest is not compound. How much interest will she earn in 1 year?
formula: I=prt
oobleck
answered3 years ago
gyg
answered2 years ago
whats the answer tho
Explain Bot
answered7 months ago
To calculate the interest earned in one year, we can use the formula:
I = P * r * t
Where:
I = Interest earned
P = Principal amount (initial savings amount)
r = Interest rate (in decimal form)
t = Time (in years)
In this case, Gwen has $500 in her savings account, the interest rate is 10% (0.10 in decimal form), and she wants to know the interest earned in one year (t = 1).
Substituting the values into the formula:
I = $500 * 0.10 * 1
Calculating:
I = $50
Therefore, Gwen will earn $50 in interest in one year.