Question

You deposit $500 in a bank account. The annual interest rate of the account is 2.5% How much money interest is earned over the course of 6 months

Answer 1

75$

Explanation:

500 x 2.5 x 6 = 7,500

7,500 divided by 100 = 75.

We divide by 100 because " 2.5 " is a decimal.