Question

The principal on Wallace Drucker’s savings account is $300. The APR is 5%. What is the simple interest after six months?

Answer 1

Do it the same way... this time you only want half the year, so divide the 5% (which is really 0.05) by 2.

Multiply that by $300 and that's your interest.

Answer 2

So 7.5? @agent0smith

Answer 3

That would be correct! :)

Answer 4

Yay! Thank you! :) @agent0smith

Answer 5

:D welcome!!

Answer 6

I have another question if you're willing to help me with that one too. I tried it on my own, and I got it way wrong. @agent0smith

Answer 7

Of course :)

Answer 8

Yay!

Answer 9

Regina Smith earned $84 in simple interest in 8 months at an annual interest rate of 3%. How much was her initial investment? @agent0smith