Question

$15,000 is invested for 6 months at an annual simple interest rate of 2%.

(a) How much interest will be earned?

(b) What is the future value of the investment after 6 months?

Answer 1

Explanation:

u find 2 percent of 15000 which is 2/100×15000 to find the annual interest then divide it by 2 to find 6 months 300 is the yearly interest so 6 months will be 150

(b) here u add the 150 gotten from a to 15000 giving u 15150