Calculate the interest for a year
interest/year = percentage × deposit
interest/year = 7.5% × 300
interest/year = [tex] \dfrac{7.5}{100} \times 300[/tex]
interest/year = [tex] \dfrac{2,250}{100}[/tex]
interest/year = 22.5
She will get $22.5 in a year
Calculate interest in 5 years
interest in 5 years = interest per year × 5
interest in 5 years = 22.5 × 5
interest in 5 years = 112.5
She will get $112.50 in 5 years
