Find the simple Interest; Principle $ 300 Rate 6.5% Time 1/2 year
I = Prt
I = 300 * 0.065 * 0.5
18
To find the simple interest, you can use the formula:
Simple Interest = (Principal * Rate * Time)
Given:
Principal = $300
Rate = 6.5% (or 0.065 as a decimal)
Time = 1/2 year
Substituting the given values into the formula:
Simple Interest = (300 * 0.065 * 1/2)
Now, let's solve this calculation step by step:
Step 1: Multiply the principal and the rate:
300 * 0.065 = $19.50
Step 2: Multiply the result from step 1 by the time:
19.50 * 1/2 = $9.75
Therefore, the simple interest for a principal of $300, a rate of 6.5%, and a time of 1/2 year is $9.75.