liam puts $800 in a savings account at an annual interest rate of 2%. if liam does not withdraw or deposit any money, what is the interest that liam will earn at the end of six months?
The interest that Liam will earn at the end of six months can be calculated using the formula:
Interest = Principal x Rate x Time
Where:
Principal = $800
Rate = 2% (or 0.02 as a decimal)
Time = 6 months (or 0.5 years)
Plugging in these values, we get:
Interest = $800 x 0.02 x 0.5
Interest = $<<800*0.02*0.5=8>>8
Therefore, Liam will earn $8 in interest at the end of six months.