Question

Matilda invested $7000 at a simple interest rate of 3.11%. how much did she have after 6 months

Answer 1

You deposit $7000 into a bank account paying 3.11% simple interest per month. You left the money in for 6 months. Find the interest earned and the amount at the end of those 6 months?

Result

The interest is $1306.2 and the amount is $8306.2.