Sue has$400 in her savings account if the bank pays her 6 1/2 0/0 instead how much interest will sue earn
To find the amount of interest Sue will earn, we need to calculate 6.5% of $400.
To do this, we multiply $400 by 6.5%:
$400 * 0.065 = $26
Therefore, Sue will earn $26 in interest.
To calculate the interest that Sue will earn, we will use the formula:
Interest = Principal * Rate
Given that Sue has $400 in her savings account and the bank pays her 6 1/2 % interest, we need to convert the percentage into decimal form.
To convert mixed numbers to decimal form, we add the whole number part to the fractional part. In this case, 6 + 1/2 equals 6.5.
Thus, the decimal form of 6 1/2 % is 0.065.
Now we can calculate the interest:
Interest = $400 * 0.065
Interest = $26
Therefore, Sue will earn $26 in interest.
To calculate the amount of interest that Sue will earn with a 6.5% interest rate on her $400 savings account, you can follow these steps:
Step 1: Convert the percentage to a decimal.
To convert 6.5% to a decimal, divide it by 100.
6.5% = 6.5/100 = 0.065
Step 2: Multiply the decimal by the initial amount.
To find the interest, multiply the interest rate (in decimal form) by the initial amount.
Interest = 0.065 * $400
Step 3: Calculate the interest.
Multiply the decimal value by the amount to calculate the interest.
Interest = 0.065 * 400 = $26
Therefore, Sue will earn $26 in interest.