SOLUTION: find the simple interest of 500 for 6 months at the 14.5% per year

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Question 867353: find the simple interest of 500 for 6 months at the 14.5% per year
Answer by jim_thompson5910(35256) About Me  (Show Source):
You can put this solution on YOUR website!
6 months = 1/2 year = 0.5 year

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I = P*r*t ... I = interest, P = principal, r = interest rate, t = time (in years)


I = 500*0.145*0.5


I = 36.25 dollars