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Luther has $80\$80 in a savings account. The interest rate is 10%10\% per year and is not compounded. How much will he have in total in 33 years? \newlineUse the formula i=prti = prt, where ii is the interest earned, pp is the principal (starting amount), rr is the interest rate expressed as a decimal, and tt is the time in years.\newline$\$___

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Q. Luther has $80\$80 in a savings account. The interest rate is 10%10\% per year and is not compounded. How much will he have in total in 33 years? \newlineUse the formula i=prti = prt, where ii is the interest earned, pp is the principal (starting amount), rr is the interest rate expressed as a decimal, and tt is the time in years.\newline$\$___
  1. Convert to decimal: Convert the interest rate from a percentage to a decimal.\newline10%=0.1010\% = 0.10
  2. Calculate interest earned: Use the formula i=prti = prt to calculate the interest earned after 33 years.\newlinei=($)80×0.10×3i = (\$)80 \times 0.10 \times 3\newlinei=($)24i = (\$)24
  3. Find total amount: Add the interest earned to the principal to find the total amount.\newlineTotal amount = Principal + Interest\newlineTotal amount = $80\$80 + $24\$24\newlineTotal amount = $104\$104

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