bridgette has $78,364 in a savings account that earns 4% interest per year. the interest is not compounded…

bridgette has $78,364 in a savings account that earns 4% interest per year. the interest is not compounded. how much interest will she earn in 6 months? 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.

bridgette has $78,364 in a savings account that earns 4% interest per year. the interest is not compounded. how much interest will she earn in 6 months? 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.

Answer

Explanation:

Step1: Identify values for formula

$p = 78364$, $r=0.04$ (since 4% = 0.04), $t=\frac{6}{12}=0.5$ years.

Step2: Substitute values into formula

$i = prt=78364\times0.04\times0.5$.

Step3: Calculate the interest

$i = 78364\times0.02 = 1567.28$.

Answer:

$1567.28$