Answer:
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.
Answer:
T = 100 • 0.01 • 10
Step-by-step explanation:
The simple interest equation is I = prt. In this case, I = T, 100 is the principal (p), 1% or 0.01 is the interest rate, and 10 is the time/number of years, (t).
