## Step-by-Step Solution **Question:** If you put $1,000 in a savings account at an interest rate of 10 percent, how much money will you have in one year? Let's solve it step by step. --- ### 1. **Identify Important Information** - Principal (P): $1,000 - Interest Rate (r): 10% per year = .10 - Time (t): 1 year --- ### 2. **Use the Simple Interest Formula** The formula for the amount (A) after one year with simple interest: \[ A = P \times (1 + r \times t) \] Since \( t = 1 \): \[ A = P \times (1 + r) \] --- ### 3. **Plug in the Values** \[ A = 100 \times (1 + .10) \] \[ A = 100 \times 1.10 \] \[ A = 110 \] --- ### 4. **Conclusion** After one year, you will have **$1,100**. --- ### 5. **Select the Correct Choice** - $1,100 (**Correct Answer**) - $909 - $1,200 - $950 **Answer:** \[ \boxed{ \$1,100 } \] This is the amount you will have in one year.