Question

Thomas invested $1498 at

6% Sumple interest per annum.
Calculate.
1) The interest, in dollars,
earned after six months

Answer 1

well, keeping in mind that a year has 12 months, that means 6 months is 6/12 of a year, so

`~~~~~~ \textit{Simple Interest Earned} \\\\ I = Prt\qquad \begin{cases} I=\textit{interest earned}\\ P=\textit{original amount deposited}\dotfill & \$1498\\ r=rate\to 6\%\to (6)/(100)\dotfill &0.06\\ t=years\to (6)/(12)\dotfill &(1)/(2) \end{cases} \\\\\\ I = (1498)(0.06)((1)/(2)) \implies I = 44.94`