How many months would it take to earn $1,650 interest on a deposit of $44,000 at 7 ½%?
A) 4.5 months
B) 12 months
C) 6 months
D) 5 months
E) ½ month

Question

Quizplus · Accepted Answer

To find the number of months it would take to earn $1,650 in interest on a $44,000 deposit at a 7.5% annual interest rate, we first calculate the annual interest: $44,000 * 7.5% = $3,300. Since $1,650 is half of the annual interest, it would take half a year or 6 months to earn that amount.

How Many Months Would It Take to Earn $1,650 Interest