Simple Interest Question for Math class
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Simple Interest Question for Math class

[From: ] [author: ] [Date: 11-11-01] [Hit: ]
!-t is time in years.1230.9 (1.00633333) = $1238.6957-= $1,......
Owen deposited $1,230.90 in a savings account that earns 1.9% simple interest. What will Owens account balance be in 4 months?


a $1,238.70
b $1,230.90
c $1,324.45
d $1,254.29

I got 1324.45 but im not sure if i put in the time right in the formula ... ? (A=p (1+rt)
idk if you put time in as 4/12 or just 4 ? HELP!!

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t is time in years. So t = 4/12 = 1/3

1230.9 (1.00633333) = $1238.6957

-
= $1,230.90(1 + [0.019 * 1/3])
= $1,230.90(1 + 0.006333333)
= $1,230.90(1.006333333)
= $1,238.70

Answer: a. $1,238.70

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I don't know!!!!!I hate mathhhhh !!!!!!!!!!!!!!!!!!!!!!!!!!
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