Question

What would the amount of interest be earned if there is a deposit of $10,000 at 9.5% for 90 days

Answer 1

I am working on this in school, this is how we are being taught to do this type of problem:

First, convert the 9.5% to 0.095. Then multiply:

10,000 x 0.095 x 90 = 85,500

So, the answer should be: $85,500 interest.