Final answer:
To compute the amount of interest earned in a deposit of $9,000 at 8.5% for 90 days, use the formula: Interest = Principal x Rate x Time. Substitute the given values into the formula and solve to find the interest earned.
Step-by-step explanation:
To compute the amount of interest earned, we can use the formula: Interest = Principal x Rate x Time. In this case, the principal (P) is $9,000, the rate (R) is 8.5%, and the time (T) is 90 days. To calculate the interest, we convert the rate to a decimal by dividing it by 100: 8.5% = 0.085. Then we substitute the values into the formula: Interest = $9,000 x 0.085 x (90/365). Solve the equation to find the interest earned: Interest = $183.84.