Leroy has $30 in a savings account. The interest rate is 5% per year and is not compounded. How much interest will he earn in 2 years?
Use the formula $i=p r t$, 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.
Use the formula $i=p r t$, 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.