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27 July, 13:19

A city orchestra invests $5200 at 6% simple interest. How much is in the account after 1/2 year?

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  1. 27 July, 13:38
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    1) the amount in the account to the end of 1/2 year is M, for calculate it is the following formula for simple interest

    M = C (1+i*n); where C = Capital, i = rate of interest, n = 1/2 year or it can be wrriten as 6 / 12 as fraction of month by year

    M = C[ (1+0.06 * (6/12) ] = $ 5356
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