Question

Alice deposited 600 dollars in a new savings account, no other deposits were made, after 3 months interest was computed at an annual interest rate of 3 1/2 percent. how much interest did her money earn

Answer 1

deposit .... period ..... interest

100$   ...... 1 year .......  3.5$
600$    ....  1 year ...... 21.0$
600$   ..... 6 months .. 10.5$
600$  ...... 3 moths ....  5.25$