2 years ago

How much interest will Brian earn on $875 in his savings account after 3 months if the annual interest rate is 5.5%?

Mathematics

1 answer:

eduard2 years ago

6 0

The interest that Brain would receive is $12.03.

<h3>How much interest would Brain receive?</h3>

The interest received is a function of the amount saved, interest time and the length of time the money was saved.

Interest = amount saved x number of months x (annual interest rate / 12)

$875 x 3 x (0.055 / 12) = $12.03

To learn more about interest, please check: brainly.com/question/26164549

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