## anonymous one year ago Ignacio earns 5 percent simple interest annually on his savings account. How much interest will he earn each month on $1250? simple interest = P × r × t$5.21 $52.10$62.50

"5 percent simple interest *annually*" COMBINED WITH "How much interest will he earn *each month*" you should de-compound the 5%, but that is usually over and above. thus, 5% annual is $$\frac{5}{12}$$% per month. and $$\frac{0.05}{12}* USD \ 1250 = USD\ 5.208 \dot{3}$$