Kayla deposits $1,500 into a NOW account that requires a minimum balance of $500 and offers an interest rate of 2.4%. How much interest will she earn in one year in the NOW account?

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The interest earned is calculated as follows:Interest = Principal x Interest Rate x TimeInterest = $1,500 x 2.4% x 1 yearInterest = $1,500 x 0.024 x 1Interest = $36

Kayla Deposits $1,500 into a NOW Account That Requires a Minimum