Sue has $400 in her savings account if the bank pays her six and a half percent interest how much interest will sue earn

Answer 1

To calculate the interest that Sue will earn, we use the formula:

Interest = Principal x Rate

Where:
Principal = $400
Rate = 6.5%

Converting the rate to decimal form:

6.5% = 6.5/100 = 0.065

Now, we can calculate the interest:

Interest = $400 x 0.065
Interest = $26

Therefore, Sue will earn $26 in interest.