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Roberto deposited 860 in a new account that earns 6.5% simple interest. after 6 months, how much interest will he have earned?​

User Gjqeriqi
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Final answer:

To calculate the simple interest earned by Roberto after 6 months, use the formula: Interest = Principal imes Rate imes Time. Plug in the values: Principal = $860, Rate = 6.5% or 0.065, and Time = 0.5 years. The result is $27.95.

Step-by-step explanation:

To calculate the simple interest earned by Roberto after 6 months, we can use the formula:

Interest = Principal imes Rate imes Time

where Principal is the amount deposited, Rate is the interest rate, and Time is the duration in years. In this case, Roberto deposits $860 and the interest rate is 6.5% or 0.065 in decimal form. Since the time is given in months, we need to convert it to years by dividing by 12. So, Time = 6/12 = 0.5 years. Plugging the values into the formula, we get:

Interest = $860 imes 0.065 imes 0.5 = $27.95

Therefore, Roberto will have earned $27.95 in interest after 6 months.

User MyBoon
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