ina loaned Gerry $300 at an interest rate of 10 percent a year. How much interest will Gina get if Gerry pays Gina after 6 months?(1 point)

Answer 1

To calculate the interest, we need to first determine the interest rate for 6 months.

The interest rate for the whole year is 10 percent, so the monthly interest rate is 10 percent divided by 12, which is 0.1/12 = 0.0083 (rounded to 4 decimal places).

Next, we multiply the monthly interest rate by the principal amount borrowed:

0.0083 x $300 = $2.50 (rounded to the nearest cent)

Finally, we multiply the interest by the number of months:

$2.50 x 6 = $<<2.5*6=15>>15

Therefore, Gina will receive an interest of $15 if Gerry pays Gina after 6 months.

Answer 2

Calculate the simple interest on a $100,000 investment at an interest rate of 12 percent a year after 6 months.(1 point)
Responses

$6,000
$6,000

$72,000
$72,000

$7,200,000
$7,200,000

$600,000

Answer 3

To calculate the simple interest, we can use the formula:

Interest = Principal × Rate × Time

Given:
Principal = $100,000
Rate = 12% per year
Time = 6 months = 0.5 years

Plugging in these values into the formula, we get:

Interest = $100,000 × 0.12 × 0.5
Interest = $6,000

Therefore, the simple interest on a $100,000 investment at an interest rate of 12 percent a year after 6 months is $6,000.