SOLUTION: Joel's bank figures interest semi-annually; that is, every 6 months. How much interest will $4,000 earn at 3.5% for 6 months? (Hint: Write 6 months as a fractional part of a year.)

SOLUTION: Joel's bank figures interest semi-annually; that is, every 6 months. How much interest will $4,000 earn at 3.5% for 6 months? (Hint: Write 6 months as a fractional part of a year.)

Algebra.Com

Question 934499: Joel's bank figures interest semi-annually; that is, every 6 months. How much interest will $4,000 earn at 3.5% for 6 months? (Hint: Write 6 months as a fractional part of a year.)
Answer by Alan3354(69443) (Show Source): You can put this solution on YOUR website!
4000*0.0175 = $70
RELATED QUESTIONS
Terry mother figures that she will need to have $200 000 at the end of 10 years. The... (answered by ikleyn)

Amy contributed $1011.00 at the end of every six months for 21.5 years into an RRSP... (answered by Theo)

A Php 50,000 loan is payable in 3 years. To repay the loan, the debtor must pay an amount (answered by Theo)

Terry is confused about the various compounding periods offered by his bank. If he... (answered by JulietG)

how much money will you need to deposit to earn $75 in simple interest in 6 months if you (answered by checkley77)

A person wishes to deposit $5,000 per year in a savings account which earns interest of 8 (answered by ikleyn)

Todd wants to start a business in 3 years. He figures that he will need $10 000 to start. (answered by josgarithmetic)

The bank is currently paying interest at a rate of 4% a year. If I keep my money in there (answered by solver91311)

For how many years will Prasad make payments on the $28,000 he borrowed to start his... (answered by ikleyn)