Study guides

☆

Q: What is the simple interest of 3000 dollars invested at 7 percent for six months?

Write your answer...

Submit

Still have questions?

Related questions

1200

If the interest is compounded annually, then the first interest payment isn't added until the end of the first year. Until then, the investment is worth exactly $15,000.00 .

7% of 3,000 for 6 month

763.89

$60.00

1/12th of 5% because there are 12 months in a year. ANSWER:- 1/60th per cent, which is the same as 0.01667 of the amount invested.

Take the annual interest rate, divide it by 2 and multiply it by the amount you invested or borrowed.

of course it is 290 dollars

Semiannually over two years is equivalent to 4 periods. If the interest is 12% every 6 months, then the amount of interest is It is 8000*[(1.12)4 -1] =4588.15

200

14

6% of 500 dollars is 30 dollars - whether it is over 12 months or a micro-second.

15,000*0.0425*5/12 = 265.625 unless it is compounded on a daily basis.

???????? I'm the best Justin

Interest is normally paid over 12 months.So after 12 months at 2.99%, 29.90 dollars would be paid.

42

1168.21

Eleven..? months? years?. Simple or compound interest?

.05% or 1/20th of a percent

21.28

3 months

21.28

The Discover Student More card offers and introductory 0 percent interest rate for up to 6 months. After that, the interest rate is variable at 13 percent on up to 20 percent for purchases.

If every six months the capital earn 10% interest which is compounded, at the end of 5 years, the interest will be 31875. If the annual interest rate is 10%, it makes no difference how often it is compounded. The six monthly interest rate is adjusted - to 4.88% rather than 5% - so that the total interest for a year is 10%.

Multiply the principal (P) by the annual* interest rate as a decimal (r) and the time in years* (t). *The time period may be expressed in months, etc. For example, $2000 invested at 7% simple interest for 5 years: I = Prt = 2000x0.07x5 = 140x5 = $700.