Answer:
$9.65
Step-by-step explanation:
We are given that Jada deposited $867 into a savings account that pays a simple annual interest rate of 0.89% and we are to find the interest she will earn after 15 months.
So we will use the formula:
Interest = P × R × T
where P = principal, R = rate, T = time in years
Substituting the given values in the above formula:
Interest = [tex]867[/tex] × [tex]\frac{0.89}{100}[/tex] × [tex]\frac{15}{12}[/tex] = $9.65
