document.write( "Question 73695: Jack put $500 in the bank. It paid 2% simple interest for 6 months. How much did he have in the bank in 6 months? \n" ); document.write( "

Algebra.Com's Answer #52690 by bucky(2189) $\"\"$ $\"About$

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At the end of the 6-month period the bank calculated 2% or .02 or 2 dollars for every hundred
\n" ); document.write( "dollars Jack had on deposit and added that much to his account.
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\n" ); document.write( ".02 times 500 dollars = .02*500 = $10
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\n" ); document.write( "Or you could think about it this way, for every 100 of Jack's the bank had they would
\n" ); document.write( "give Jack 2 dollars at the end of 6 months. Since Jack had 5 times 100 dollars the bank
\n" ); document.write( "would give him 5 times 2 dollars which again equals $10.
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\n" ); document.write( "So, to answer the problem, Jack had $510 dollars in his account at the end of 6 months.
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\n" ); document.write( "Your money can make money for you and all you have to do is sit back and let it happen.
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\n" ); document.write( "Hope this helps you to see your way through this problem. \n" ); document.write( "

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