Question 831357: A bank increases its interest rate from 3.5% to 4% per annum. Find how much more interest Susan would receive if she deposited 6,400 in the bank for 6 months with the new simple interest rate.
Answer by JulietG(1812)   (Show Source):
You can put this solution on YOUR website! If Susan puts $6400 in the bank at 3.5%, she would get 6400*.035 or 224 after a year. In 6 months, she would get half of that, or 112.
If Susan puts $6400 in the bank at 4%, she would get 6400 * .04 or 256 after a year. In 6 months, she would get half of that, or 128.
What is the difference between 128 and 112?
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