SOLUTION: Suppose you deposit 160 dollars in a savings account that pays an annual rate of 9%. Interest = (Deposit)(rate)(time), where the rate is a decimal and time is in years. How

Algebra ->  Customizable Word Problem Solvers  -> Finance -> SOLUTION: Suppose you deposit 160 dollars in a savings account that pays an annual rate of 9%. Interest = (Deposit)(rate)(time), where the rate is a decimal and time is in years. How      Log On

Ad: Over 600 Algebra Word Problems at edhelper.com


   



Question 399271: Suppose you deposit 160 dollars in a savings account that pays an annual rate of 9%.
Interest = (Deposit)(rate)(time),
where the rate is a decimal and time is in
years.
How much interest would you earn in
5 months?

Answer by rfer(16322) About Me  (Show Source):
You can put this solution on YOUR website!
I=160*0.09*5/12
I=72/12
I=$6