Mary wants a dress that costs $450 for He prom. So far, she has saved $275 and put it in a saving account for 1.5 years. What is the approximate interest rate must she earn to have $450 by prom?

Use the equation i = prt

p is the initial amount

r is the interest rate

t is the number of years in decimal form

i is the total amount

1) Set up the equation as 450 = (275) (r) (1.5)

2) Solve for r

Your answer comes out to be 1.09, or 9%.

the person would need to have at lest a 15 ercent interest