Answer:
$90 of interest will be earned.
Step-by-step explanation:
We are given the following in the question:
Principal,P = $250
Time, T = 18 months = 3 years
Rate, R = 12% = 0.12
Formula for simple interest:
[tex]I =\dfrac{P\times R\times T}{100}[/tex]
Putting values, we get,
[tex]I =\dfrac{250\times 12\times 3}{100} = \$90[/tex]
Thus, interest of $90 will be earned.
