Question

What is the simply interest. principal $ 300, rate 6.8 % time half a year 6 months

Answer 1

I=PRT
I=interst
P=principal
R=rate
T=time in years


I=?
P=300
R=0.068
T=0.5

I=(300)(0.068)(0.5)
I=10.2

interest is $10.2

Answer 2

The formula for simple interest for months is I=P * (r / m) * n. Where P is the principle and r is rate and m is the year or 12 months and n equals how many months.

I=300 * (0.068 / 12) * 6 = 10.2

So the interest would be $10.2