Question

Cameron has $90 in the savings account that earns 10% interest per year the interest is not compounded how much interest will she earn in 3 years use the formula I equals PRT where I is interest earned p is the principal r is the interest rate expressed as a decimal and t is the time in years

Answer 1

To calculate the interest earned using the formula \( I = PRT \), where:

- \( I \) is the interest earned,
- \( P \) is the principal amount (initial amount),
- \( R \) is the interest rate (expressed as a decimal),
- \( T \) is the time in years,

we can substitute the given values:

- \( P = 90 \) (the principal amount),
- \( R = 10\% = 0.10 \) (the interest rate expressed as a decimal),
- \( T = 3 \) (the time in years).

Now we plug the values into the formula:

\[
I = PRT = 90 \times 0.10 \times 3
\]
\[
I = 90 \times 0.10 = 9
\]
\[
I = 9 \times 3 = 27
\]

Therefore, the interest earned over 3 years will be \( I = 27 \).

Cameron will earn **$27** in interest after 3 years.