sycuantribe sycuantribe

14-07-2022
Mathematics

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How much interest will Brian earn on $875 in his savings account after 3 months if the annual interest rate is 5.5%?

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ewomazinoade ewomazinoade

15-07-2022

The interest that Brain would receive is $12.03.

How much interest would Brain receive?

The interest received is a function of the amount saved, interest time and the length of time the money was saved.

Interest = amount saved x number of months x (annual interest rate / 12)

$875 x 3 x (0.055 / 12) = $12.03

To learn more about interest, please check: https://brainly.com/question/26164549

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