Answer:
$656.25
Explanation:
The formula for simple interest is:
Where A is the final amount, P is the principal, r is the rate, and t is the time in years.
The question does not specify whether the interest rate is annual or not, but I will assume it is! To convert 15 months to years, divide it by 12 months!
I also need the percent to be a decimal. To convert a percent to a decimal, divide by 100.
Now, plug the values into the formula!
The total amount after 15 months is $656.25