Question

Jo deposits $13,000 in a savings account that earns 7.75% interest. How much interest will the account earn after 18 months?

Answer 1

I = $1,511.25

Explanation:

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Answer 2

I = prt

I = 13,000(0.0775)(1.5)

Note: t = time in years. We know that 18 months is 1.5 years.

I = $1,511.25