Question

A bank pays 1.25% interest per year. Lincoln deposited $16 500 in the bank. How many will interest would he earn after 1 year?

Answer 1

206.25$

Explanation:

To find the amount of money he got, you would use this formula: l = prt

interest = principle ( 16500 ) * interest rate ( 1.25% ) * time ( 1 )

that equals 206.25$, and that is what she would earn in 1 year