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You put $550 in an account that earns 4.4% simple interest per year. How much interest do you earn in 6 month $1.21 $12.10 $121.00 $145.20

You put $550 in an account that earns 4.4% simple interest per year. How much interest do you earn in 6 month $1.21 $12.10 $121.00 $145.20
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3 votes
You put $550 in an account that earns 4.4% simple interest per year. How much interest do you earn in 6 month

$1.21

$12.10

$121.00

$145.20

asked
User Lorenz Lo Sauer
by
7.8k points

2 Answers

2 votes
12.10 would be the interest for only 6 months. 
answered
User Andersem
by
8.7k points
1 vote
(550*4.4)/100=24.2
24.2/12=2.016 $ in month
2.016*6=12.10 $
answered
User RolandXu
by
7.6k points
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