Kalia’s parents give her simple interest on any money she saves for college. Which equation and solution represents the total interest, T, earned when the principal amount is $100, the annual simple interest rate is 1%, and the number of years is 10?
T = 100 • (10 + 0.1); $1,010
T = 100 • (10 + 0.01); $1,001
T = 100 • 0.1 • 10; $100
T = 100 • 0.01 • 10; $10