To find the interest earned in a year, multiply the principal amount ($12,500) by the interest rate (2.75% expressed as a decimal) and round the result to the nearest cent.
Interest = $12,500 * 0.0275 = $343.75
Bekkah's savings account earns 2.75% interest per year.
If she put $12,500 into the savings account, how much interest would be earned in a year?
1 answer
1 answer