Question

If you place $1,000.00 in a savings account with an interest rate of 5.25%/month, how much should you earn in interest at the end of the month?
(1 point)
Responses

$5.25
$5.25

$52.50
$52.50

$525.00
$525.00

$0.53

Answer 1

$52.50

Calculation: 1000 × 0.0525 = 52.50, so you earn $52.50 in interest for the month.