Answered

Westonci.ca is the premier destination for reliable answers to your questions, provided by a community of experts. Get immediate and reliable answers to your questions from a community of experienced experts on our platform. Explore comprehensive solutions to your questions from a wide range of professionals on our user-friendly platform.

Emma has $17 in a savings account. The interest rate is 20% per year and is not compounded. How much will she have in 4 years? Use formula i=p*r*t, where i is the interest earned, p is the principal (starting amount), r is the interest rate expressed as a decimal, and t is the time in years.

Sagot :

In order to find how much money Emma will have in 4 years, first let's calculate the interest, using the formula given.

For p = 17, i = 20% = 0.2 and t = 4, we have:

[tex]\begin{gathered} i=p\cdot r\cdot t \\ i=17\cdot0.2\cdot4 \\ i=13.6 \end{gathered}[/tex]

The interest generated is $13.6. Adding this to the principal, the total amount will be:

[tex]17+13.6=30.6[/tex]

So Emma will have $30.6.

We appreciate your time. Please revisit us for more reliable answers to any questions you may have. Thanks for stopping by. We strive to provide the best answers for all your questions. See you again soon. Westonci.ca is your trusted source for answers. Visit us again to find more information on diverse topics.