Question says
" Find the accumulated amount at the end of 9 months on an $800 deposit in a bank pating simple interest at a rate of 6% year".
I know that the simple interest formula is A=P (1+rt)
With p being $800 and r being 0.06. I know that t is the year.
Would I put t as 9 even though I believe that t is for years?
So something like A= 800 (1+(0.06*9)?
Do I divide 9 by 12 (12 months in a year) and use that as t?
t=3/4?
you divide the yearly interest rate by 12, then use 9 for t, since it is the number of payments, not always just years.
A= 800 (1+(0.06/12)*9)
Yes, you're correct that the formula for simple interest is A = P(1 + rt), where A is the accumulated amount, P is the principal (initial deposit), r is the interest rate, and t is the time period in years.
In this case, since you want to find the accumulated amount at the end of 9 months, you need to convert 9 months into a fraction of a year. Since there are 12 months in a year, 9 months is equal to 9/12 or 0.75 years.
Now, you can substitute the values into the formula:
A = 800(1 + (0.06 * 0.75))
A = 800(1 + 0.045)
A = 800(1.045)
A = $836
Therefore, the accumulated amount at the end of 9 months would be $836.