Calculate the simple interest on a $100,000 investment at an interest rate of 12 percent a year after 6 months.(1 point) Responses $6,000 $6,000 $600,000 $600,000 $72,000 $72,000 $7,200,000
The simple interest on a $100,000 investment at an interest rate of 12 percent a year after 6 months can be calculated using the formula:
Interest = Principal * Rate * Time
In this case, we have:
Principal = $100,000
Rate = 12% = 0.12
Time = 6 months = 0.5 years
Interest = $100,000 * 0.12 * 0.5 = $6,000
Therefore, the correct answer is $6,000.