What is the interest amount on $1,800 for a year at 1/2%
To calculate the interest amount on $1,800 for a year at 1/2%, you can follow these steps:
1. Convert the interest rate from a fraction to a decimal: 1/2% = 0.5/100 = 0.005.
2. Multiply the principal amount ($1,800) by the interest rate (0.005): $1,800 * 0.005 = $9.
Therefore, the interest amount on $1,800 for a year at a 1/2% interest rate would be $9.