Respuesta :
STEP - BY - STEP EXPLANATION
What to find?
The new the new account balance after 9 months.
Given:
Principal (p) = $20 000
Rate(R) = 8
Time(t) = 9 months = 9/12 year = 0.75 years.
We will solve the given problem using the steps below:
Step 1
State the formula that will be use to solve the problem.
[tex]I=\frac{P\times R\times T}{100}[/tex]Where I is the interest.
Step 2
Substitute the values into the formula.
[tex]I=\frac{20000\times8\times0.75}{100}[/tex][tex]=\frac{120000}{100}[/tex][tex]=1200[/tex]Hence, interest(I) = $1200
But;
Amount = principal + Interest
= 20 000 + 1200
=21200
Therefore, the account balance after 9 months is $21200
ANSWER
$21200
