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Mathematics 9 Online
OpenStudy (anonymous):

Ignacio earns 5 percent simple interest annually on his savings account. How much interest will he earn each month on $1250?

OpenStudy (anonymous):

Does the interest compound monthly?

OpenStudy (anonymous):

nevermind, re-read the question...

OpenStudy (anonymous):

$1250(.05)=$5.21

OpenStudy (anonymous):

$1250(.05)/12=$5.21 rather

OpenStudy (anonymous):

Simple interst I = prt I =1250(.05)(1/12) = $5.21

OpenStudy (anonymous):

Yes, $5.21

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