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21 July, 06:41

Simple interest is calculated on the principal in an account using the formula I=prt. How much simple interest does $3,500.00 earn in 6 months at an annual interest rate of 2.5%?

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  1. 21 July, 07:50
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    Here, i = $3500*0.025 * (1/2) = $43.75 in simple interest.
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