Question

Lauren has $900 in a savings account that earns 10% interest per year.The interest is not compounded. How much will she have in total in 1 year?

Answer 1

`~~~~~~ \textit{Simple Interest Earned Amount} \\\\ A=P(1+rt)\qquad \begin{cases} A=\textit{accumulated amount}\\ P=\textit{original amount deposited}\dotfill & \$900\\ r=rate\to 10\%\to (10)/(100)\dotfill &0.10\\ t=years\dotfill &1 \end{cases} \\\\\\ A = 900[1+(0.10)(1)] \implies A = 990`