the Principal is $700
the Interest Rate is 5%
the Total Time is 6 months
What is the total amount due?
The total amount due can be calculated using the simple interest formula:
Simple Interest = (Principal x Interest Rate x Time)/100
Substituting the given values, we get:
Simple Interest = (700 x 5 x 6)/100 = $210
Therefore, the total amount due would be the sum of the principal and the simple interest, which is:
Total Amount Due = Principal + Simple Interest = $700 + $210 = $910
So the total amount due after 6 months is $910.