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Compute the amount of interest earned in the following simple interest problem. A deposit of $1,295 at 7% for 180 days = _____. (Note: Use 365 days in a year)
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Compute the amount of interest earned in the following simple interest problem. A deposit of $1,295 at 7% for 180 days = _____. (Note: Use 365 days in a year)

User Torp
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I = Prt, where P = $1,295; r = 7/100 = 0.07, t = 180/365

I = 1,295 x 0.07 x 180/365 = $44.70
User Nir Ben Yaacov
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