Question

If Tina has $1,800.00 in a bank account that earns 19.3% interest, how much interest will she earn in 3 months?






$43.43



$86.85



$173.70



$347.40

Answer 1

\[I=\frac{PRT}{100}\]
where P= principal which is $1,800.00
R= rate which is 19.3%
T = time in years
convert the 3 month to years which is 3/12 = 0.25years
\[I=\frac{1800*19.3*0.25}{100}\]
\[I=\$86.85\]