Register
Can someone please give me the formula to solve this kind of problem? Compute the amount of interest earned in the following simple interest problem. A deposit of $1,600 at 6% for 180 days: $ ____.
157k views
5 votes
Can someone please give me the formula to solve this kind of problem?

Compute the amount of interest earned in the following simple interest problem.

A deposit of $1,600 at 6% for 180 days: $ ____.

User CrazyYoshi
by
5.2k points

1 Answer

6 votes
The amount of simple interest is $48.

The formula is I = PRT

So we enter:

I = 1600 x (0.06) x (0.5)
I = 48

I used 0.5 for the time, T, because 180 days is half a year.


User Mirta
by
5.9k points
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

5.8m questions

7.5m answers

Other Questions

Aliyah has $24 to spend on seven pencils. After buying them she had $10. How much did each pencil cost?
Evaluate a + b when a = –16.2 and b = –11.4 A. –27.6 B. –4.8 C. 4.8 D. 27.6
What is the value of x? (-4) - x = 5
Find the quotient of 3,078 ÷ 27. A) 104 B) 109 C) 114 D) 119
Can someone help me with 5??? ASAP?
Link Copied!