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John had $2000. He deposited 40% of the money into a simple interest account. The account has a 6% annual interest rate. How much interest has he earned on this deposit at the end of six months? *

Respuesta :

Answer:

$60

Step-by-step explanation:

John's Money = $2000

Annual Interest Rate  = 6%

Total amount John should

receive after a year = 2000x(1+0.06)

                                 = 2120

Total interest amount in a year = 2120 - 2000

                                                    = $120

Total interest amount in a per month = 120/12 = $10

Total interest amount in 6 months = 10 x 6 = $60

                       

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