Question

In simple interest what is $1,500 at 1.2% for 9 months

Answer 1

Steps:

`i=prt`
interest = principal (original amount of money) × rate (interest rate-usually in percent) × time (usually in months)


`i = 1500 * 1.2\% * 9`

`1.2\% = 0.012`

`i = 1500 * 0.012 * 9`

`i = 18 * 9`

`i = 162`
The simple interest for 9 months is $162.