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25 September, 08:49

You put $550 in an account that earns 4.4% simple interest per year how much interest do you earn in six months

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  1. 25 September, 11:20
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    I=PRT

    P=princiapl=amount put in

    r=rate in decimal

    t=time in years

    so

    P=550

    r=4.4%=0.044

    t=6/12=1/2 yr

    so

    I = (550) (0.044) (1/2)

    I = (275) (0.044)

    I=12.10

    you earn $12.10 interest in 6 months
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