SOLUTION: Clara placed $650 in a savings account that pays 4% simple interest. How much interest will Clara earn from this account if she leaves her money in for 18 months?

Algebra ->  Percentages: Solvers, Trainers, Word Problems and pie charts -> SOLUTION: Clara placed $650 in a savings account that pays 4% simple interest. How much interest will Clara earn from this account if she leaves her money in for 18 months?      Log On


   

Question 369386: Clara placed $650 in a savings account that pays 4% simple interest. How much interest will Clara earn from this account if she leaves her money in for 18 months?
Answer by mananth(16946) About Me  (Show Source):
You can put this solution on YOUR website!
Interest I = p*r*t
..
p =principal = $650
r= rate =4% = 0.04
t = time in years = 1.5
...
I = 650*0.04*1.5
I =$ 39
...
m.ananth@hotmail.ca