Daniel has a money market account with $1200.The bank offered him a special rate of 5.25% per month.How much money will Daniel have after the first month

Question

Daniel has a money market account with $1200.The bank offered him a special rate of  5.25% per month.How much money will Daniel have after the first month

Anonymous · Answer

Maybe you mean 5.25/12 % per month? 0.0525/12 = 0.004375 every month multiply by 1.004375

Anonymous · Answer

Otherwise please let me know where this bank is :)