Answer
$67.50
Work Step by Step
Interest = $ principal \times rate \times time$
Principal = 1080
rate = 5 % = 0.05
time = $1\frac{1}{4} = \frac{5}{4}$ years
Interest = $ 1080 \times 0.05 \times \frac{5}{4}$ = 67.50 Dollars
Basic College Mathematics (9th Edition)
by Lial, Margaret L.; Salzman, Stanley A.; Hestwood, Diana L.
Published by
Pearson
ISBN 10:
0321825535
ISBN 13:
978-0-32182-553-7
Chapter 6 - Percent - Review Exercises - Page 469: 58
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