austin invests 4500 with first national bank at 5 1/4% simple interest. how much interest does austin earn after one year?

4500 * 0.0525 = ?

don't you have to do something else to figure out how much for a year?

What can be simpler than copying and pasting the problem into the Google search box?

To calculate the interest earned by Austin after one year, we need to use the formula for simple interest:

Interest = Principal x Rate x Time

Here's how you can calculate Austin's interest step by step:

1. Convert the interest rate from a mixed number to a decimal.
To convert the mixed number 5 1/4% to a decimal, divide the numerator (1) by the denominator (4) and add it to the whole number (5). Then, divide the result by 100.
(1/4) + 5 = 5.25
5.25 / 100 = 0.0525

2. Plug the values into the formula.
Principal (P) = $4500
Rate (R) = 0.0525 (decimal form of 5 1/4%)
Time (T) = 1 year

Interest = 4500 x 0.0525 x 1

3. Calculate.
Interest = $236.25

Therefore, Austin earns $236.25 in interest after one year.