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OpenStudy (anonymous):
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?
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OpenStudy (anonymous):
400 * (0.04 / 12) * 6 the division by 12 is because 4% is annual interest
OpenStudy (anonymous):
I got 80 from that equation...? @Coolsector
OpenStudy (anonymous):
how 80 ? 8..
OpenStudy (anonymous):
well. 0.04/12=0.03 then you multiply by 6 and get 0.2 then multiply that by 400 and get 80.. @Coolsector
OpenStudy (anonymous):
0.04/12 = 0.003
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OpenStudy (anonymous):
huh..That's not what my calculator says. Thats weird... Well thank you. :) @Coolsector
OpenStudy (anonymous):
are you sure ? :O
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