Question

Alexus deposited $1900 into a savings account that pays a simple annual interest rate of 1.8%. how much interest will she earn after 9 months?

Answer 1

1900 x 0.018 x 0.75 = 25.65


1900(0.018) = $34.20 for 1 year.

(9/12)(34.20) = $25.65 for 9 months.

Answer: $25.65

Answer 2

Answer:

$25.65

Step-by-step explanation:

We have been given that Alexus deposited $1900 into a savings account that pays a simple annual interest rate of 1.8%.

To find the amount of interest earned in 9 months we will use simple interest formula.

$I=Prt$, where,

$I=\text{Amount of interest}$,

$P=\text{Principal amount}$,

$r=\text{Interest rate in decimal form}$,

$t=\text{Time in years}$

Let us convert our given interest rate in decimal form and time in years.

$1.8\%=\frac{1.8}{100}=0.018$

$9\text{ months}=\frac{9}{12}\text{ year}=\frac{3}{4}\text{ year}=0.75\text{ year}$

Upon substituting our given values in simple interest formula we will get,

$I=\ 1900*0.018*0.75$

$I=\ 25.65$

Therefore, Alexus will earn an amount of $25.65 in interest after 9 months.