Question

Dayna deposited $2700 into a savings account that pays a simple annual interest rate of 1.6%. how much interest will she earn after 6 months?

Answer 1

21.60

Step-by-step explanation:

Got it right on the test.

Answer 2

for this you're going to use the I=PRT formula!  so i=interest, p=principal, r=rate, and t=time (in years). so basically here we are going to plug in the equation, I=(2700)*(0.016)*(0.5) and we get 21.60!  I=PRT is a simple interest formula, which is used for the simple plug and chug equations like this.  Just remember to convert months to years and move over your decimals!