Math  /  Numbers & Operations

QuestionLily has $500\$ 500 in a savings account that earns 10%10 \% annually. The interest is not compounded. How much will she have in total in 1 year?
Use the formula i=prti=p r t, where ii is the interest earned, pp is the principal (starting amount), rr is the interest rate expressed as a decimal, and tt is the time in years. \$

Studdy Solution
Calculate the total amount in the account after 1 year by adding the interest to the principal.
Total Amount=p+i=500+50=550\text{Total Amount} = p + i = 500 + 50 = 550
The total amount Lily will have in her savings account after 1 year is:
$550\boxed{\$550}

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