Answer
$15$ dollars.
Work Step by Step
Given $P=500, r=0.06, t=0.5\ yr$, we have the interest $I=Prt=500(0.06)(0.5)=15$ dollars.
Precalculus: Concepts Through Functions, A Unit Circle Approach to Trigonometry (3rd Edition)
by Sullivan III, Michael
Published by
Pearson
ISBN 10:
0-32193-104-1
ISBN 13:
978-0-32193-104-7
Chapter 4 - Exponential and Logarithmic Functions - Section 4.7 Financial Models - 4.7 Assess Your Understanding - Page 346: 1
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