96.8k views
0 votes
You put $550 in an account that earns 4.4% simple interest per year how much interest do you earn in six months

User Janell
by
7.4k points

1 Answer

1 vote
I=PRT
P=princiapl=amount put in
r=rate in decimal
t=time in years



so
P=550
r=4.4%=0.044
t=6/12=1/2 yr



so
I=(550)(0.044)(1/2)
I=(275)(0.044)
I=12.10

you earn $12.10 interest in 6 months
User Kavun
by
8.7k points

No related questions found