To calculate the interest that Stefan will earn in 6 months, you need to follow these steps:

1. First, convert the annual interest rate from a percentage to a decimal by dividing by 100. So, 13% becomes 0.13.

2. Then, calculate the annual interest that Stefan would earn by multiplying his savings by the interest rate. So, $29,488 * 0.13 = $3,833.44.

3. Since the interest is not compounded and you want to find out how much he will earn in 6 months, simply divide the annual interest by 2. So, $3,833.44 / 2 = $1,916.72.

So, Stefan will earn approximately $1,916.72 in interest over 6 months.

Question

To calculate the interest that Stefan will earn in 6 months, you need to follow these steps:

1. First, convert the annual interest rate from a percentage to a decimal by dividing by 100. So, 13% becomes 0.13.

2. Then, calculate the annual interest that Stefan would earn by multiplying his savings by the interest rate. So, $29,488 * 0.13 = $3,833.44.

3. Since the interest is not compounded and you want to find out how much he will earn in 6 months, simply divide the annual interest by 2. So, $3,833.44 / 2 = $1,916.72.

So, Stefan will earn approximately $1,916.72 in interest over 6 months.

Knowee AI · Accepted Answer

To calculate the interest that Stefan will earn in 6 months, you need to follow these steps:

1. First, convert the annual interest rate from a percentage to a decimal by dividing by 100. So, 13% becomes 0.13.

2. Then, calculate the annual interest that Stefan would earn by multiplying his savings by the interest rate. So, $29,488 * 0.13 = $3,833.44.

3. Since the interest is not compounded and you want to find out how much he will earn in 6 months, simply divide the annual interest by 2. So, $3,833.44 / 2 = $1,916.72.

So, Stefan will earn approximately $1,916.72 in interest over 6 months.

Stefanhas$29,488inasavingsaccountthatearns13%interestperyear.Theinterestisnotcompounded.Tothenearestcent,howmuchinterestwillheearnin6months?

Question

Stefan has $29,488 in a savings account that earns 13% interest per year. The interest is not compounded. To the nearest cent, how much interest will he earn in 6 months?

Solution

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