Suppose you obtain a $1,300 T-note with a 9% annual rate, paid monthly, with maturity in 6 years. How much interest will be paid to you each month?

We know that,
Interest, I = [tex] \frac{P×R×T}{100} [/tex]
Where, P = Principal = $1300
R = rate of interest = 9% annually = [tex] \frac{9}{12} [/tex]%
T = Time  = 1 month

So, I = [tex] \frac{1300×[tex] \frac{9}{12} [/tex]×1}{100} [/tex]
        = $9.75

Interest paid per month is $9.75