Karen deposited $5,000 as a certificate of deposit (CD) in a bank for a period of 3 years. The CD pays simple interest of 15% pe

Question

2 years ago

8

Karen deposited $5,000 as a certificate of deposit (CD) in a bank for a period of 3 years. The CD pays simple interest of 15% pe

r year and pays interest every 6 months. How much interest does she get every 6 months?
$

(Hint: Use the formula i = prt, where i is the interest earned, p is the principal (starting amount), r is the interest rate expressed as a decimal, and t is the time in years.)

Mathematics

1 answer:

Serhud [2] · Answer 1 · 2022-05-13T09:02:34+03:00

Serhud [2]2 years ago

3 0

375 every 6 months ..........