Calculate the simple interest on a $100,000 investment at an interest rate of 12 percent a year after 6 months.(1 point)%0D%0AResponses%0D%0A%0D%0A$6,000%0D%0A$6,000%0D%0A%0D%0A$72,000%0D%0A$72,000%0D%0A%0D%0A$600,000%0D%0A$600,000%0D%0A%0D%0A$7,200,000
To calculate the simple interest on a $100,000 investment at an interest rate of 12% a year after 6 months, you can use the formula:
Simple Interest = Principal (P) * Interest Rate (R) * Time (T)
First, convert the interest rate to a decimal by dividing it by 100:
12% = 12/100 = 0.12
Next, convert the time to years:
6 months = 6/12 = 0.5 years
Now, substitute the values into the formula:
Simple Interest = $100,000 * 0.12 * 0.5
Calculate:
Simple Interest = $6,000
Therefore, the simple interest on the $100,000 investment at an interest rate of 12% a year after 6 months is $6,000.