orWatch a videoJennahas$30inasavingsaccount.Theinterestrateis5%peryearandisnotcompounded.Howmuchinterestwillsheearnin4years?

To calculate the interest Jenna will earn in 4 years, we need to use the formula for simple interest which is I = PRT, where:

• I is the interest
• P is the principal amount (the initial amount of money)
• R is the rate of interest per year
• T is the time the money is invested for in years

In this case, Jenna has $30 in her savings account (P), the interest rate is 5% per year (R), and she will keep the money in the account for 4 years (T).

Step 1: Convert the interest rate from a percentage to a decimal by dividing by 100: R = 5/100 = 0.05

Step 2: Substitute the values into the formula: I = PRT = 30 * 0.05 * 4

Step 3: Calculate the interest: I = $6

So, Jenna will earn $6 in interest over 4 years.