Question

unit: solving equations and inequalities progress: the movement of the progress bar may be uneven because questions can be worth more or less (including zero) depending on your answer. darius has a 6 - month loan for $500. he must pay 3.6% annual interest on the loan. using the formula for simple interest, $i = prt$, where $i$ is interest owed, $p$ is the amount borrowed, $r$ is the rate as a decimal, and $t$ is time in years, find the amount of interest owed by darius after 6 months. $\bigcirc$ $14$ $\bigcirc$ $168$ $\bigcirc$ $140$ $\bigcirc$ $16.80$

Explanation:

Step1: Identify given values

$P = 500$, $r = 0.056$, $t = \frac{6}{12} = 0.5$

Step2: Substitute into simple interest formula

$I = Prt = 500 \times 0.056 \times 0.5$

Step3: Calculate the interest

$I = 500 \times 0.028 = 14$

Answer:

$14$