Q:

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?

Accepted Solution

A:
Answer:$25.65Step-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.[tex]I=Prt[/tex], where,[tex]I=\text{Amount of interest}[/tex],[tex]P=\text{Principal amount}[/tex],[tex]r=\text{Interest rate in decimal form}[/tex],[tex]t=\text{Time in years}[/tex]Let us convert our given interest rate in decimal form and time in years.[tex]1.8\%=\frac{1.8}{100}=0.018[/tex][tex]9\text{ months}=\frac{9}{12}\text{ year}=\frac{3}{4}\text{ year}=0.75\text{ year}[/tex]Upon substituting our given values in simple interest formula we will get,[tex]I=\$1900*0.018*0.75[/tex][tex]I=\$25.65[/tex]Therefore, Alexus will earn an amount of $25.65 in interest after 9 months.