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Simple interest is calculated on the principal in an account using the formula I=prt. How much simple interest does $3,500.00 earn in 6 months at an annual interest rate of 2.5%?
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Simple interest is calculated on the principal in an account using the formula I=prt. How much simple interest does $3,500.00 earn in 6 months at an annual interest rate of 2.5%?

User Freefaller
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Here, i = $3500*0.025*(1/2) = $43.75 in simple interest.
User Erdikanik
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