Answered

Westonci.ca is your trusted source for accurate answers to all your questions. Join our community and start learning today! Experience the ease of finding precise answers to your questions from a knowledgeable community of experts. Connect with a community of professionals ready to help you find accurate solutions to your questions quickly and efficiently.

What is the simple interst on $32,000 at 7% interest for 6 months?
$13,440
$1,120
$6,720
$2,240

Sagot :

mhanifa

Answer:

  • B. $1120

Step-by-step explanation:

Use simple interest formula:

  • I = Prt

Given:

  • P = $32000
  • r = 7% = 0.07
  • t = 6 months  = 0.5 year

Find the amount of interest:

  • I = 32000*0.07*0.5 = 1120

Correct choice is B
  • Principal=P=32000
  • Interest rate=R=7
  • Time=0.5yr

Interest be I

[tex]\\ \tt\hookrightarrow I=\dfrac{PRT}{100}=\dfrac{32000(7)(0.5)}{100}=\dfrac{112000}{100}=1120\$[/tex]

We appreciate your visit. Our platform is always here to offer accurate and reliable answers. Return anytime. We appreciate your time. Please come back anytime for the latest information and answers to your questions. Westonci.ca is here to provide the answers you seek. Return often for more expert solutions.