Mike has $40 in a savings account that earns 5% interest per year. The interest is not compounded. How much will he have in 1 year?
Use the formula i = prt, where i is the interest earned, p is the principal (starting amount),
is the interest rate expressed as a decimal, and t is the time in years.

20

step-by-step explanation:

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step-by-step explanation:

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step-by-step explanation:

explanation:

remove parenthesis:

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apply rule

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multiply fractions:

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divide:

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mordancy.