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Wanda has $90\$90 in a savings account. The interest rate is 10%10\% per year and is not compounded. How much interest will she earn in 55 years? \newlineUse the formula i=prti = prt, where ii is the interest earned, pp is the principal (starting amount), rr is the interest rate expressed as a decimal, and tt is the time in years.\newline$\$_____

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Q. Wanda has $90\$90 in a savings account. The interest rate is 10%10\% per year and is not compounded. How much interest will she earn in 55 years? \newlineUse the formula i=prti = prt, where ii is the interest earned, pp is the principal (starting amount), rr is the interest rate expressed as a decimal, and tt is the time in years.\newline$\$_____
  1. Identify principal amount: Identify the principal amount pp, which is the starting amount in the savings account. Wanda has $90\$90 in her account.
  2. Convert interest rate: Convert the interest rate rr from a percentage to a decimal. The interest rate is 10%10\%, so r=10100=0.1r = \frac{10}{100} = 0.1.
  3. Determine time in years: Determine the time (tt) in years that the interest will be earned. Wanda will earn interest for 55 years.
  4. Calculate interest using formula: Use the formula i=prti = prt to calculate the interest. Plug in the values: i=($90)×0.1×5i = (\$90) \times 0.1 \times 5.
  5. Find total interest: Perform the multiplication to find the interest. i=$90×0.1×5=$45i = \$90 \times 0.1 \times 5 = \$45.

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