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How much will Jason earn, if he invests $8,000 at 7.5% interest rate for 18 months? How much will be in the account at the end of the 18 months?
You don't say anything about compounding. If this problem involves only simple interest, then the interest will be i = p*r*t and the account balance will be i + p.
Here i = $8,000*0.075*1.5 (representing 18 months)
i + $900
At the end of 18 months there will be $8,000 + $900, or $8,900, in the account.
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