Question

Help please!

Ben Snell has $400 in his savings account. His annual interest rate is 4%. How much simple interest did he earn after six months?

Answer 1

400 * (0.04 / 12) * 6

the division by 12 is because 4% is annual interest

Answer 2

I got 80 from that equation...? @Coolsector

Answer 3

how 80 ? 8..

Answer 4

well. 0.04/12=0.03 then you multiply by 6 and get 0.2 then multiply that by 400 and get 80.. @Coolsector

Answer 5

0.04/12 = 0.003

Answer 6

huh..That's not what my calculator says. Thats weird... Well thank you. :) @Coolsector

Answer 7

are you sure ? :O