Jen alone Jerry 300 at an interest rate of 10% a year. How much interest will Gina yet if Jerry paste Gina after six months

Answer 1

To calculate the interest that Gina will get after six months, we need to determine the interest rate for six months first.

The interest rate per year is 10%, so the interest rate per month is 10%/12 = 0.833%.

Since Gina is receiving the money after six months:
Interest rate for six months = 0.833% * 6 = 5%

To calculate the interest that Gina will receive, we multiply the principal amount by the interest rate:
Interest = Principal * Interest rate
Interest = $300 * 5% = $15

Therefore, Gina will receive an interest of $15 after six months.