Levi deposited $2,918.33 in a savings account that earns 3.4% simple interest. What will Levi's account balance be in 7 months? I don't get this at all.
$2,975.88
You can go to this link to veryify your answer. Look at the formula.
http://www.calculatorsoup.com/calculators/financial/simple-interest-plus-principal-calculator.php
+37091 ONE year (12 months) of interest is 3.4% Levi will only get 7months/12months (7/12) of this simple interest
2.918.33 x (7/12) x (.034) = 57.88 interest
2918.33 + 57.88=2976.21
( The webpage referred to by guest 1 is correct but it rounds the 7months/12months to .58 when it is actually .583333 )
