Mr Alexis invested $3404 at 9% per annum on simple interest. After  88  months, he withdraws all the money. How much money does he receive?

To calculate the total amount Mr. Alexis receives after 88 months with simple interest, we'll first convert the time into years, then use the simple interest formula.

### Step 1: Convert months to years
\[
\text{Time in years} = \frac{88 \text{ months}}{12 \text{ months/year}} = 7.33 \text{ years}
\]

### Step 2: Use the simple interest formula
The formula for simple interest is:
\[
\text{Simple Interest} = P \times r \times t
\]
Where:
- $ P = 3404 $ (principal amount)
- $ r = 9\% $ or $ 0.09 $ (annual interest rate)
- $ t = 7.33 $ years

### Step 3: Calculate the simple interest
\[
\text{Simple Interest} = 3404 \times 0.09 \times 7.33 = 2245.31
\]

### Step 4: Calculate the total amount
\[
\text{Total Amount} = P + \text{Simple Interest} = 3404 + 2245.31 = 5649.31
\]

Mr. Alexis receives **\$5649.31** after 88 months.

Would you like more details or have any questions?

Here are 8 related questions:
1. How much interest would Mr. Alexis earn if he invested the same amount for 5 years?
2. What would be the total amount if the interest rate was 10% instead of 9%?
3. How does the time period affect the total amount received in simple interest?
4. If the interest was compounded annually, how would the final amount compare?
5. How much interest is earned if the principal was \$5000 instead of \$3404?
6. What is the impact of increasing the interest rate by 1% on the total amount received?
7. How much money would Mr. Alexis receive if he invested for 10 years instead of 88 months?
8. What would be the final amount if the interest rate was decreased to 8%?

**Tip:** Always ensure that time is in years when using the simple interest formula, as the interest rate is usually expressed on an annual basis.

Learn how to calculate the total amount received by Mr. Alexis after investing $3404 at 9% per annum for 88 months using simple interest. This problem covers key concepts in simple interest calculation and time conversion. Suitable for high school students.

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