Question

1. Lisa's parents gave her $1000 for her high

Answer 1

Answer:

Step-by-step explanation:

Answer 2

Answer: $56.25

Step-by-step explanation:

Money: $1000

Interest: 7.5% or $\frac{7.5}{100} =0.075$

There are two steps you can use to find this.

First

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To find the annual interest multiply by the rate.

$(1000)(0.075)\\=75$

We can now find how much that is per month;

$\frac{75}{12} = 6.25$ per month, to find how much that is in 9 months, multiply by 9

$6.25*9=56.25$

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Second

You know 12 months is 1 year, you divide the amount of months that we're trying to calculate the interest of, by the amount of years in months; in this case, 12.

$\frac{9}{12}=0.75$

Multiply that by the interest and the total amount.

$(0.75)(0.075)(1000)\\= 56.25$

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