Question

You deposit $400 into an account that earns simple interest at an annual rate of 4.8% annually. How much money will be in the account after 6 months?

Answer 1

Is the formula I=prt? I tried the formula and it didn't work</3

Answer 2

Multiple choice:
A) $403.2
B) $409.6
C) $419.2
D) $515.2

Answer 3

:P

Answer 4

I = PRT

Answer 5

Yeah... So I=400(.048)(1/2) rightt?

Answer 6

Why 1/2?

Answer 7

doesn't it have to be by year?

Answer 8

Well, you have to make sure you properly interpret what every six months mean

Answer 9

Oh, it said after six months

Answer 10

Yeah that should be right

Answer 11

hold a second let me calculate again...

Answer 12

Do I add it to the 400 dollars?
b/c i got 19.2

Answer 13

Did you remember to divide by 2?

Answer 14

oh no.
X3 I'll do that but do i add it?

Answer 15

yes add that to 400 and see what you get

Answer 16

I got B) $409.6?