Question

To calculate the interest for one month, you can use the formula: Interest = Principal × Rate × Time. In this case, Interest = $9,000 × (2.5% / 12) × 1 month = $18.75.

Answer 1

The formula to calculate simple interest for one month is Interest = Principal × Rate × Time.

Step-by-step explanation:

The subject of this question is Mathematics, specifically related to the calculation of simple interest.

To calculate the interest for one month, you can use the formula: Interest = Principal × Rate × Time. In this case, given a principal of $9,000, a rate of 2.5% per annum, and a time of 1 month, the interest would be calculated as:

Interest = $9,000 × (2.5% / 12) × 1 month = $18.75