SOLUTION: What is the simple interest of a deposit of 6,000 for 180 days and the interest rate is 6.75%?

Algebra ->  Customizable Word Problem Solvers  -> Finance -> SOLUTION: What is the simple interest of a deposit of 6,000 for 180 days and the interest rate is 6.75%?      Log On

Ad: Over 600 Algebra Word Problems at edhelper.com


    

Question 620769: What is the simple interest of a deposit of 6,000 for 180 days and the interest rate is 6.75%?
Answer by nerdybill(7384) About Me  (Show Source):
You can put this solution on YOUR website!
What is the simple interest of a deposit of 6,000 for 180 days and the interest rate is 6.75%?
Interest = Prt
P is 6000
r is .0675
t is 180/365
.
Interest = Prt
Interest = 6000(.0675)(180/365)
Interest = 6000(.0675)(0.493151)
Interest = 6000(0.0332877)
Interest = $199.73