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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?
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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dumbcow
 5 years ago
Best ResponseYou've already chosen the best response.1Interest = P*i*t = 1500*0.14*(1/2) because 6 months is 1/2 a year =105

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0so if you wanted to find the percent you would i*r*t?

dumbcow
 5 years ago
Best ResponseYou've already chosen the best response.1whats r? if you want to find the interest rate as percent i% = (Interest/P*t) *100

dumbcow
 5 years ago
Best ResponseYou've already chosen the best response.1ahh ok im using i for the rate,

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0ohh so interest & rate are the same?

dumbcow
 5 years ago
Best ResponseYou've already chosen the best response.1kinda 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

dumbcow
 5 years ago
Best ResponseYou've already chosen the best response.1sorry for confusing you

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0but thanks for the mini lesson
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