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Assume a six-month cd purchased for $5000 pays simple interest at an annual rate of 9.5%. how much interest does it earn?
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19 votes
19 votes
Assume a six-month cd purchased for $5000 pays simple interest at an annual rate of 9.5%. how much interest does it earn?

User Arek Bal
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1 Answer

26 votes
26 votes

Answer:

$3,157.89

Step-by-step explanation:

Divide 5000 by 9.5%, times 6.

Hope this helps <3

User BlackJoker
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