Answer:
The balance amount owned in six months is $ 46.8
Step-by-step explanation:
Given as :
The price of new shoes = $85
The amount paid for the shoes = $ 40
The balance amount for the shoes = $85 - $40 = $ 45
The rate of interest = 8%
the time period = 6 months = 0.5 years
From simple method
Simple interest =

or, Simple interest =

Or, Simple interest =
= $1.8
So, Amount = Principal + Interest
or, Amount = $45 + $1.8 = $ 46.8
Hence The balance amount owned in six months is $ 46.8 Answer