Question

William’s inheritance from great uncle came to 225,000 after taxes. If William invests this money in a savings account at 7.3% interest, how much will he earn from the account each year?

Answer 1

William will earn $16,425 from the account each year.

Step-by-step explanation:

To calculate how much William will earn from the account each year, we need to multiply his inheritance of $225,000 by the interest rate of 7.3%. This can be done using the formula:

Earnings = Principal x Interest Rate

Using the formula, we have:

Earnings = $225,000 x 0.073 = $16,425

Therefore, William will earn $16,425 from the account each year.