Question

You deposit $300 in a savings account that pays 4% simple annual interest. Find your account balance after 9 months.

a.309

b.409

c.609

d.509 answer:

Answer 1

Answer:

simple intrest=(principal *rate of intrest * time period )/100

in this case,

principal=300

rate of intrest = 4/12=1/3

time period= 9 months

intrest= [300*(1/3)*9]/100=9

amount=principal + intrest

=> amount = 300+9=309

thus, option A is correct

Step-by-step explanation: