QUESTION 7 of 20: Your savings account pays 2.5% interest per year. How much interest does the account pay per month. a) .02% b) 04% c) 21% d) 43%

Question

asked May 10, 2022 159k views

2 Answers

Zanchey · Answer 1 · 2022-05-15T07:11:34+0000

Answer:

a) .02%

Step-by-step explanation:

One year has 12 months.

The interest rate per year = 2.5%

Interest earned per month will be

=2.5% / 12

=0.02%