Question

Nina's grandmother deposits 3000 into a saving account for her account pays 5.5% simple interest on an annual basis if she does not add or withdraw money from the account how much interest will she earn after 21 months round to the nearest tenth ​

Answer 1

Answer:

$288.8

Step-by-step explanation:

Using I=Prt, we know that the 3000 is the P, 5.5% is the r, and 21 months is the t. The t goes by years, so 21 months=1.75 years. To find the interest, we do 3000*5.5%*1.75 which is 288.75. Then the problem requires you to round to the nearest tenth, so now, the answer is $288.8