Question

Peter has a savings account which pays him $30.15 monthly interest.

Estimate how much he will get in interest for the year $
(Round the pay rate to a whole dollar before estimating)

Answer 1

He gets $360 in interest in a year

Explanation:

Peter gets paid $30.15 monthly interest,

rounded to a whole dollar, we get,

Monthly Interest = $30.0

Now,

In a year there are 12 months, so to get the amount he gets in a year, we multiply the interest he gets in a month by 12, hence,

Interest for the whole year = 12(30)

Interest for the whole year = $360