To solve this problem, we will use the formula i = prt, where:

- i is the interest earned
- p is the principal (starting amount)
- r is the interest rate expressed as a decimal
- t is the time in years

In this case:

- p = $50 (the starting amount)
- r = 10% = 0.10 (the interest rate expressed as a decimal)
- t = 5 years

Substitute these values into the formula:

i = prt
i = $50 * 0.10 * 5
i = $25

This means that Nora will earn $25 in interest over 5 years.

To find out how much she will have in total, we add the interest earned to the starting amount:

Total = p + i
Total = $50 + $25
Total = $75

So, Nora will have $75 in total in her savings account after 5 years.

Question

To solve this problem, we will use the formula i = prt, where:

- i is the interest earned
- p is the principal (starting amount)
- r is the interest rate expressed as a decimal
- t is the time in years

In this case:

- p = $50 (the starting amount)
- r = 10% = 0.10 (the interest rate expressed as a decimal)
- t = 5 years

Substitute these values into the formula:

i = prt
i = $50 * 0.10 * 5
i = $25

This means that Nora will earn $25 in interest over 5 years.

To find out how much she will have in total, we add the interest earned to the starting amount:

Total = p + i
Total = $50 + $25
Total = $75

So, Nora will have $75 in total in her savings account after 5 years.

Knowee AI · Accepted Answer