# 7th Grade Math

Find the total amount of money that Jeff will have in his savings account after 3 months if his initial deposit was \$945 with a 4.5% interest rate.

I have no idea what the answer is. Please explain.

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asked by Missy
1. You are probably working with "simple interest"

Interest = Principal x rate x time
= 945*.045*3/12
= 10.63

So he will have \$945 + \$10.63
= \$955.63

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posted by Reiny

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