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How much interest will Brian earn on $875 in his savings account after 3 months if the annual interest rate is 5.5%?

How much interest will Brian earn on $875 in his savings account after 3 months if the annual interest rate is 5.5%?
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0 votes
How much interest will Brian earn on $875 in his savings account after 3 months if the annual interest rate is 5.5%?

asked
User Rafael Rotelok
by
7.8k points

2 Answers

6 votes
385/32
Or
12.03125 or 12 1/32
answered
User Michal Sznajder
by
7.9k points
5 votes

Answer:

$12.03

Explanation:

I = prt

I = (875)(0.055)(3/12)

I = 12.03

Answer: $12.03

answered
User Warmanp
by
7.9k points
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