Question

A savings bank invests $58,800 in municipal bonds and earns 12% per year on the investment. How much money is earned per year?

Answer 1

Answer: $58,000 = 12% = $65,856

Answer 2

To find the answer we simply have to find 12% of 58,800. So to do that, we can multiply it by .12

58,800 • .12 = 7,056

So $7,056 is earned per year