Philip amherst has $600 in his savings account earning 5 3/4 annual interest. after 12 months, and using the simple interest method, what amount of interest will he have earned?

we are given

Philip Amherst has $600 in his savings account

so, principal amount is $600

so, we get

interest rate is 5 3/4 %

so,

r =5.75%

time is 12 months

Since, interest is annually

so, we can change time in years

now, we can find simple interest

we can use formula

now, we can plug values

so,

the amount of interest after 12 months is $34.5..........Answer

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step-by-step explanation: