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30 March, 18:58

A woman put $580 into a savings account for one year. the rate of interest on the account was 6 1/2%. how much was the interst for the year in dollars and cents?

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  1. 30 March, 20:05
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    Interest=$580 x 6.5%

    =580 x 6.5/100

    =$37.70

    $37.70 = 37dollars and 70 cents
  2. 30 March, 22:19
    0
    The rate of interest is 6.5%, so multiply 580 by 6.5 then divide by 100 to get the answer. The amount of interest for the year is $37.7.
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