Malinda has a savings account set up so that her monthly interest -0.1% of the balance of her savings accounts is given to her as a check at the end of each month. If her savings account has a balance of $1,500 all year. What will be the total amount of all 12 interest checks for the year?

0.001 * 1,500 * 12 = ?

120 To find the total amount of all 12 interest checks for the year, we need to calculate the monthly interest and then multiply it by 12.

First, let's find the monthly interest. The interest rate is given as -0.1% of the balance of the savings account. To calculate the monthly interest, we multiply the balance by the interest rate.

Monthly Interest = Balance * Interest Rate
= $1,500 * (-0.1%)

To convert -0.1% to decimal form, we divide by 100:

Monthly Interest = $1,500 * (-0.1/100)
= $1,500 * (-0.001)

Simplifying this calculation, we get:

Monthly Interest = -$1.50

Now that we have the monthly interest amount, we can calculate the total amount of all 12 interest checks for the year by multiplying the monthly interest by 12:

Total Amount of Interest Checks = Monthly Interest * 12
= -$1.50 * 12

Simplifying further, we find:

Total Amount of Interest Checks = -$18

Therefore, the total amount of all 12 interest checks for the year will be -$18.