Answer:
The interest he earns in one year is $3000
Step-by-step explanation:
We are given
Alex has $30,000 in his savings account that earns 10% annually
so,
P=30000
r=10%
t=1 years
now, we can find interest
[tex]I=\frac{P\times r\times 1}{100}[/tex]
now, we can plug values
[tex]I=\frac{30000\times 10\times 1}{100}[/tex]
now, we can simplify it
[tex]I=3000[/tex]
So,
The interest he earns in one year is $3000
