How much simple interest would Kaitlyn earn on $300 at 6% for 6 months?
A. $9
B.$18
C.$54
D.$27
mY ANSWER IS (B)
Your answer is wrong.
The interest quoted is for a year.
To calculate the simple interest, you need to use the formula:
Simple Interest = Principal × Rate × Time
Where:
Principal = $300
Rate = 6% (or 0.06 as a decimal)
Time = 6 months
Now, let's substitute the values into the formula and solve for the simple interest:
Simple Interest = $300 × 0.06 × 6
Simple Interest = $108
Therefore, the correct answer is not among the options you provided. The correct answer would be $108.