Matt has $550 in his savings account. he is eager to know how much interest the bank will pay him for the whole year. he knows that the bank pays a 3 percent interest rate. he sits down with a pen, paper, and calculator to find out the simple interest. let’s him out. matt has already jotted down the formula he needs to use: i = p × r × t first, him substitute the correct values in this formula. write down the appropriate numbers for principal, rate of interest, and time