Alright I have a question for all of you! You put $550 in an account that earns 4.4% simple interest per year. How much interest do you earn in 6 months?

First, converting R percent to r a decimal

r = R/100 = 4.4%/100 = 0.044 per year,

putting time into years for simplicity,

6 months : 12 months/year = 0.5 years,

then, solving our equation

A = 550 (1 + (0.044 * 0.5)) = 562.1

A = $ 562.10

The total amount accrued, principal plus interest,

from simple interest on a principal of $ 550.00

at a rate of 4.4% per year

for 0.5 years (6 months) is $ 562.10.

If it is simple interest we can say that you earn 2.2% per 6 months as 2.2 = 4.4/2

Now as all we need is the interest earned, we can simply find 2.2% of $550

This is done by dividing 2.2 by 100 to get 0.022 and then doing 0.022 * 550 = 12.1

So the interest earned is $12.10.