​Rita has $70,000 in a savings account that earns 8% interest per year. The interest is not compounded. How much interest will she earn in 3 months?

Question

Im doing and IXL lesson for seventh grade on simple interest that was assigned to me. I keep struggling with it and need help 

thank you.

Answer 1

Since it gains 8% over the entire year, it gains 8/4 = 2% in 3 months because 3 months is 1/4 of a year.

 

0.02(70,000) = your answer

Answer 2

i = p · r · t      (Learn it!)

i = 70000(0.08)(0.25)

 

Can you calculate?