find the simple interest on $1200 at 8% for six months?
explain each step please!
Whats the answer!?!!?!
Explain each step plz!
Please!!!!!
576?
WHAT IS THE ANSWER!!!!!!!!!!!!
48
To find the simple interest on $1200 at 8% for six months, we can use the formula:
Simple Interest = Principal * Rate * Time
Where:
Principal is the initial amount ($1200 in this case),
Rate is the interest rate per period (8% or 0.08),
Time is the length of time in years (six months or 0.5 years).
Using the formula:
Simple Interest = $1200 * 0.08 * 0.5
Calculating this:
Simple Interest = $48
Therefore, the simple interest on $1200 at 8% for six months is $48.