Answer:
$33.75
Explanation:
Equation:
I = Prt
Calculation:
First, converting R percent to r a decimal
r = R/100 = 13.5%/100 = 0.135 per year,
Put time into years for simplicity,
6 months ÷ 12 months/year = 0.5 years,
then, solving our equation
I = Prt
I = 500 × 0.135 × 0.5 = 33.75
I = $ 33.75
The simple interest accumulated
on a principal of $ 500.00
at a rate of 13.5% per year
for 0.5 years (6 months) is $ 33.75