Ask Question
8 February, 00:36

How much simple interest is earned on $2000 at 4% interest for 6 months?

Give your answer in dollars and cents. Round your answer to the nearest hundredth.

Simple Interest

I = p • r • t

+5
Answers (1)
  1. 8 February, 03:30
    0
    Given the formula for simple interest:

    l = p * r * t

    We can get the amount.

    The start amount is $2000. the rate is at 4%. The time is at 6 months.

    Using the formula,

    l = p * r * t

    l = 2000 * 0.04 * 6

    l = $480.00

    So the simple interest is 480.00
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “How much simple interest is earned on $2000 at 4% interest for 6 months? Give your answer in dollars and cents. Round your answer to the ...” in 📙 Mathematics if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers