SOLUTION: A gift shop owner invests her profits of $11,500 at 8¾% for 9 months. Find the total amount in the account at the end of this time.

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Question 891668: A gift shop owner invests her profits of $11,500 at 8¾% for 9 months. Find the total amount in the account at the end of this time.
Answer by LinnW(1048) About Me  (Show Source):
You can put this solution on YOUR website!
Increase = (11500)*(8 3/4 percent)( 9 months out of 12 months)
(11500)(0.0875)(9/12)
(11500)(0.0875)(0.75) = 754.6875
The total amount in the account = 11500 + 754.6875 = 12254.69