To calculate how much money Daniel will have after the first month, we need to determine the interest earned during that month.
The interest earned can be calculated by multiplying the principal amount by the interest rate:
Interest = Principal * Rate
= $1200 * 0.0125 (as 1.25% is equal to 0.0125 in decimal form)
= $15
Therefore, Daniel will have an additional $15 in his money market account after the first month.
Adding this interest to the principal amount, we can calculate the total amount of money Daniel will have:
Total amount = Principal + Interest
= $1200 + $15
= $1215
So, Daniel will have $1215 in his money market account after the first month.
Daniel has a money market account with $1200. The bank offered him a special rate of 1.25% per month. How much money will Daniel help after first month
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