## Isabel put $4,000 into a saving account that pays interest monthly at a simple-interest rate of 2.5% per year. If she takes the interest int

Question

Isabel put $4,000 into a saving account that pays interest monthly at a simple-interest rate of 2.5% per year. If she takes the interest interest out of the account each month, how much money should she expect to earn after 6 months?

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2021-07-22T22:12:42+00:00
2021-07-22T22:12:42+00:00 1 Answers
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## Answers ( )

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Answer:$49.98

Step-by-step explanation:The interest credited to Isabel’s account each month is …

I = Prt

I = $4000·(0.025)(1/12) = $8.33

If she withdraws that amount each month, the original balance is restored, and she will earn the same amount the next month.

Isabel’s total

earnings in 6 monthswill be …$8.33 · 6 =

$49.98