erika's parents gave her $500 for her high school graduation she put the money into a savings account that earns 7.5% annual interest she left the money in the account for 9 months before she withdrew it. how much interest did the account earn if it interests what is paid monthly

Answer: [tex]\$28.13[/tex]Step-by-step explanation:The interest (simple interest) [tex]I[/tex] is calculated by: [tex]I=(P)(r)(t)[/tex]Where:[tex]P=\$500[/tex] is the principal[tex]r=7.5\% annual=0.075 annual[/tex] is the percent of the principal that is paid over a period of time (yearly in this case).[tex]t=\frac{9}{12}[/tex] is the time, since we are told the money was left in the account for 9 months of the 12 months a year has. [tex]I=(\$500)(0.075)(\frac{9}{12})[/tex] [tex]I=\$28.125 \approx \$28.13[/tex]