Answer:
The total interest after 10 years is $10.
Step-by-step explanation:
Formula
[tex]Simple\ interest = \frac{Principle\times Rate\times Time}{100}[/tex]
As given
when the principal amount is $100, the annual simple interest rate is 1%, and the number of years is 10.
Principle = $100
Rate = 1%
Time = 10 years
Simple interest = T
Put in the formula
[tex]T = \frac{100\times 1\times 10}{100}[/tex]
[tex]T = \frac{1000}{100}[/tex]
T = $10
Therefore the total interest after 10 years is $10.
