SOLUTION: amy opened a savings account with $1,250. The account pays 7.5% simple interest. What is the balance after 3 months?

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Question 1027729: amy opened a savings account with $1,250. The account pays 7.5% simple interest. What is the balance after 3 months?
Answer by FrankM(1040) About Me  (Show Source):
You can put this solution on YOUR website!
3 months is 1/4 of a year.
7.5%/4 = 1.875%
$1250 * .01875 = $23.44