How much simple interest would Kaitlyn earn on $300 at 6% for six months?

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asked Jan 24, 2017 180k views

1 Answer

Tsachev · Answer 1 · 2017-01-29T07:34:47+0000

I = let
I= 300*.06*.5
I= $9.00
Since time in the formula is years and the money was not in for a complete year you have to use the part of the year (6months) that it was earning interest 1/2 year or .5

How much simple interest would Kaitlyn earn on $300 at 6% for six months?

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