# SOLUTION: Craig opens a savings account with \$850. His account earns 3% annual simple interest. How much interest will Craig earn in 18 months?

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 Question 558194: Craig opens a savings account with \$850. His account earns 3% annual simple interest. How much interest will Craig earn in 18 months?Found 2 solutions by rfer, stanbon:Answer by rfer(12657)   (Show Source): You can put this solution on YOUR website!I=850*0.03*1.6 I=\$40.80 Answer by stanbon(57307)   (Show Source): You can put this solution on YOUR website!Craig opens a savings account with \$850. His account earns 3% annual simple interest. How much interest will Craig earn in 18 months? --------------------------- A(t) = P(1+nr) ----- A(3/2) = 850(1 + (3/2)(0.03)) ------ = 850 + 1.5*0.03*850 ---- = \$888.25 ================= Cheers, Stan H.