Answer
$15
Work Step by Step
Recall the following equation:
$I=Prt$, where:
P is the original principle.
r is the interest rate, expressed in decimal form.
t is the time, in years.
Thus, we obtain:
$$I=Prt \\I=(500)(.06)(.5) \\ I=15$$
College Algebra (10th Edition)
by Sullivan, Michael
Published by
Pearson
ISBN 10:
0321979478
ISBN 13:
978-0-32197-947-6
Chapter 6 - Section 6.7 - Financial Models - 6.7 Assess Your Understanding - Page 474: 1
Update this answer!
You can help us out by revising, improving and updating this answer.
Update this answerAfter you claim an answer you’ll have 24 hours to send in a draft. An editor will review the submission and either publish your submission or provide feedback.
