Question

Anna Roszcko has $1,200 in her savings account. She earns 4.5 percent interest. How much will she earn in 9 months?

Answer 1

$40.5

Step-by-step explanation:

Interest is calculated using the formula.

I= p x r x t

where I = interest

p= principal amount: $1200

r= interest rate: 4.5% or 0.045

t= time in year. 9 months which is 9/12 or 0.75 years

i =$1200 x 0.045 x 0.75

I =$54 x 0.75

I =$40.5

Interest earned is $40.5