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anonymous

  • 5 years ago

$1500 is invested for 6 months at an annual simple interest rate of 14%. How much interest will be earned?

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  1. dumbcow
    • 5 years ago
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    Interest = P*i*t = 1500*0.14*(1/2) because 6 months is 1/2 a year =105

  2. anonymous
    • 5 years ago
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    so if you wanted to find the percent you would i*r*t?

  3. dumbcow
    • 5 years ago
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    whats r? if you want to find the interest rate as percent i% = (Interest/P*t) *100

  4. anonymous
    • 5 years ago
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    rate

  5. dumbcow
    • 5 years ago
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    ahh ok im using i for the rate,

  6. anonymous
    • 5 years ago
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    ohh so interest & rate are the same?

  7. dumbcow
    • 5 years ago
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    kinda i = interest rate when i typed out Interest i meant the dollar amount of interest earned so interest rate and rate are the same thing but Interest is different

  8. dumbcow
    • 5 years ago
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    sorry for confusing you

  9. anonymous
    • 5 years ago
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    a little lol

  10. anonymous
    • 5 years ago
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    but thanks for the mini lesson

  11. dumbcow
    • 5 years ago
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    :)

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