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Natalija [7]
4 years ago
12

Vincent borrowed $500 from Mitchell for six months. How much interest will Mitchell earn if he charges Vincent a simple interest

rate of 3 percent?
Mathematics
1 answer:
tresset_1 [31]4 years ago
4 0
Principal P = $500,  Rate = 3 % = 3/100 = 0.03  would assume per year, 
Time t = 6 months = (6/12) year = 0.5 year.

Simple Interest, I = P*r*t
              
                             = 500*0.03*0.5 = 7.5

And so therefore your answer is 7.5
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The question is incomplete and the data is missing so the complete question with data is below with attached files:

To celebrate there 125 anniversary, a company in Germany produced 125 very expensive teddy bears. The bears,known as the "125 karat teddy bears", are made mohair,silk and gold thread and have diamond and sapphire eyes.

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