Maths query.

[Vita]

Hi,

I'm not the brightest when it comes to maths so I thought I'd practice with percentages. This one question, is bugging the daylights out of me. I can not even get to the answer, despite knowing the answer!

If Sheila deposited $1,050.00 into a saving account at her local bank.If the interest rate is 1.5%,then how much will she have after 18 months round the answer to the nearest cent?

Answer is $1,073.63

How do I work this out!

 

[Vita]

Assuming it's 1.5% per year, 18 months interest = 2.25% pro rated.

Therefore, 1050 * 1.0225 = 1073.625

Thank you so much! I worked out the yearly interest and the interest for 6 months. I just couldn't work out the formula, I kept * by 2.25

Now I understand much better. Thanks to everyone else for their replies.