Answer: $511.25
Step-by-step explanation:
Principal(P) = $ 500
rate(r) = 3%
Time(t) = 9months = 9/12 years
Time = 0.75 years
Interest = PTR/100
I = 500 X 0.75 X 3 / 100
I = 1125/100
I = 11.25
Interest = $ 11.25
Therefore the balance of the account after 9 months = P + 1
= $500 + $11.25
A = $511.25
