What would the amount of interest be earned if there is a deposit of $10,000 at 9.5% for 90 days

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Mathematics

23 December, 19:12

What would the amount of interest be earned if there is a deposit of $10,000 at 9.5% for 90 days

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Daria · Answer 1

I am working on this in school, this is how we are being taught to do this type of problem:

First, convert the 9.5% to 0.095. Then multiply:

10,000 x 0.095 x 90 = 85,500

So, the answer should be: $85,500 interest.