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30 January, 08:31

Which equation represents the total interest, T, earned when the principal amount is $100, the annual simple interest rate is 1%, and the number of years is 10?

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  1. 30 January, 11:52
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    T = 100 (1+.01) ^10

    Step-by-step explanation:

    100 is the principal amount,.01 is the rate, plus 1 because this is a growth problem, and you bring 1+.01 to the power of 10 because it expresses that 10 years is the amount of time that has gone along.
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