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Andy deposited 1567.12 in a savings account that earns 1.9% simple interest. What will Andy's account balance be in nine months

Respuesta :

bear in mind that, 9 months is not even a year, is just a fraction of a year, there are 12 months in a year, thus 9 months is just 9/12 or 3/4 of a year.

[tex]\bf \qquad \textit{Simple Interest Earned Amount}\\\\ A=P(1+rt)\qquad \begin{cases} A=\textit{accumulated amount}\\ P=\textit{original amount deposited}\to& \$1567.12\\ r=rate\to 1.9\%\to \frac{1.9}{100}\to &0.019\\ t=years\to \frac{9}{12}\to &\frac{3}{4} \end{cases} \\\\\\ A=1567.12\left( 1+0.019\cdot \frac{3}{4} \right)[/tex]

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