Question

$1500 is invested for 6 months at an annual simple interest rate of 14%.
How much interest will be earned?

Answer 1

Interest = P*i*t
= 1500*0.14*(1/2) because 6 months is 1/2 a year
=105

Answer 2

so if you wanted to find the percent you would i*r*t?

Answer 3

whats r?
if you want to find the interest rate as percent
i% = (Interest/P*t) *100

Answer 4

rate

Answer 5

ahh ok im using i for the rate,

Answer 6

ohh so interest & rate are the same?

Answer 7

kinda i = interest rate
when i typed out Interest i meant the dollar amount of interest earned
so interest rate and rate are the same thing but Interest is different

Answer 8

sorry for confusing you

Answer 9

a little lol

Answer 10

but thanks for the mini lesson

Answer 11

:)