To calculate the interest earned using the formula \( i = prt \), we need to identify the values for \( p \), \( r \), and \( t \):
- \( p = 40 \) (the principal amount)
- \( r = 0.10 \) (the interest rate expressed as a decimal)
- \( t = 1 \) (the time in years)
Now, substituting these values into the formula:
\[ i = prt = 40 \times 0.10 \times 1 \]
Calculating it step by step:
- \( 40 \times 0.10 = 4 \)
- \( 4 \times 1 = 4 \)
Thus, the interest earned in 1 year is:
\[ \boxed{4} \]
Max will earn $4 in interest in 1 year.
1 answer