Question

PLEASE HELP!!!
Mona invested $3,500 in a savings account earning 4% simple interest. After 6 months, how much money will she have in the account?

Answer 1

Answer:

If Interest is per year then $3570

If Interest is per month then $ 4340

Step-by-step explanation:

Per Year

Int = p.t.r/100

Int = 3500×0.5×4/100

= 3500× 2/100

= 7000/100

= 70

= 3500 + 70 = $3570

Per Month

Int = p.t.r/100

= 3500×6×4/100

= 3500×24/100

= 35×24

= 840

= 3500 + 840 = $4340