Scotthas$69,305inasavingsaccountthatearns15%interestperyear.Theinterestisnotcompounded.Howmuchwillhehaveintotalin2years?

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, and t is the time in years.

To find how much Scott will have in total after 2 years in his savings account, we'll use the simple interest formula:

\[
i = prt
\]

Where:
- $ p = 69,305 $ (principal amount)
- $ r = 0.15 $ (15% interest rate expressed as a decimal)
- $ t = 2 $ (time in years)

Now, let's calculate the interest earned:

\[
i = 69,305 \times 0.15 \times 2
\]

Let me calculate this.The interest earned after 2 years is $ i = 20,791.5 $, and Scott's total savings after 2 years will be:

\[
\text{Total} = 69,305 + 20,791.5 = 90,096.5
\]

So, Scott will have \$90,096.50 in total after 2 years.

Would you like more details or have any questions?

Here are 5 related questions to expand on this topic:
1. How much would Scott have after 3 years with the same interest rate?
2. What if the interest rate was 10% instead of 15%?
3. How would the result change if the interest was compounded annually?
4. How much interest would Scott earn in 5 years?
5. What would be the total if the interest rate increased by 2% after the first year?

**Tip:** For simple interest, the total grows linearly with time, as the interest is not reinvested into the principal.

Scotthas$69,305inasavingsaccountthatearns15%interestperyear.Theinterestisnotcompounded.Howmuchwillhehaveintotalin2years?

Learn how to calculate simple interest using the formula i = prt. Scott has $69,305 in a savings account that earns 15% interest per year. In 2 years, he will have $90,096.50. This problem is ideal for students in Grades 6-8 and teaches the basic principles of simple interest calculations.

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