Jack's bank pays2 1/4% annual interest on Jack's account how much interest will jack make on a $600 deposit that he keeps in the bank for one year and four months?
if the interest is paid annually, then he gets just one year's interest.
But, let's say he gets the interest every month. In that case, since savings accounts generally draw compound interest, the amount in the account will be
600(1 + 0.0225/12)^16 = 618.26
so $18.26 of that is the interest