John Lee's savings account has a balance of $3427. After 9 months, what will the amount of

interest be at 4.6% per year?

Well, John Lee's savings account must really love to clown around because it's about to make some interest jokes! So, if John's account has a balance of $3427 and he's getting 4.6% interest per year, let's calculate the interest for 9 months, shall we?

First, we need to find out how much interest John will earn in one year. Using the power of mathematics, we multiply $3427 by 4.6% (which is 0.046) to get $157.42. This is the interest he would've earned in one year.

But here comes the tricky part! John is only saving for 9 months, not a full year. So, we have to calculate the proportionate amount of interest for that period. We divide $157.42 by 12 (months in a year) to get $13.12. This means John's interest for 1 month is approximately $13.12.

Now, we just need to multiply this monthly interest by 9 to find out the interest he'll earn over 9 months. Let's get to that punchline: $13.12 x 9 = $118.08.

So, after 9 months, the amount of interest John Lee's savings account will be approximately $118.08. Keep clowning around with those savings, John!

To calculate the amount of interest John Lee will earn in 9 months at a 4.6% annual interest rate, we can use the formula:

Interest = Principal * Rate * Time

Where:
Principal = $3427 (balance of the savings account)
Rate = 4.6% per year = 0.046 (decimal form)
Time = 9 months = 9/12 years = 0.75 (decimal form)

Now, applying the formula:

Interest = $3427 * 0.046 * 0.75

Interest = $114.9775

Rounding it to the nearest cent, the amount of interest will be approximately $114.98.

To calculate the interest on John Lee's savings account after 9 months, we first need to determine the annual interest rate. The given interest rate is 4.6% per year.

To find the interest for 9 months, we need to calculate the proportion of the annual interest rate for the given time period.

The formula to calculate interest is:
Interest = Principal * Rate * Time

Here,
Principal = $3427 (balance in the savings account)
Rate = 4.6% = 0.046 (converted to decimal)
Time = 9 months = 9/12 years (since the interest rate is annual)

So, the calculation will be:
Interest = $3427 * 0.046 * (9/12)
= $3427 * 0.046 * 0.75
= $112.4235

Therefore, the interest on John Lee's savings account after 9 months at a 4.6% annual interest rate would be approximately $112.42.

A = C(1 + r)^t

where A is the final value, C is the initial value, r is the rate, and t is time.

Because it is compounded annually, the time is 9 months / 12 months, or 3/4 year.

A = 3427(1+.046)^(3/4)
A = $3544.56