Taylor has $430 in her savings account. the annual simple interest at the bank is 2%. how much interest will she look earn on her savings in nine months?
The interest amount can be calculated using simple interest formula. The simple interest is multiplication of principal amount, rate of interest and time.
The interest amount will be $6.45.
Given:
The principal amount @@MATH_TOKEN_0@@.
Annual interest rate @@MATH_TOKEN_1@@
Time is 9 month @@MATH_TOKEN_2@@.
Write the formula to calculate the simple interest.
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Substitute the value in above equation.
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Thus, the interest amount will be $6.45.
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