Mr. Altamirano opens an account with a simple interest on an account with $1000 at 3% annually for 9 months. How much interest did he earn?

asked Apr 24, 2021 39.7k views

1 vote

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6 votes

Answer:

1022.50

Explanation:

1000*.03= 30. (12mos interest)

30/4=7.50 quarterly interest

7.50x3 (9mos)= 22.50 interest

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