Answer:
A = $5.09
Step-by-step explanation:
First, converting R percent to r a decimal
r = R/100 = 3.5%/100 = 0.035 per year.
Putting time into years for simplicity,
6 months / 12 months/year = 0.5 years.
Solving our equation:
A = 5(1 + (0.035 × 0.5)) = 5.0875
A = $5.09
The total amount accrued, principal plus interest, from simple interest on a principal of $5.00 at a rate of 3.5% per year for 0.5 years (6 months) is $5.09.
The interest should be $94.50
Given that,
Based on the above information, the calculation is as follows:
The interest is
[tex]= \$5,400 \times 3.5\% \times 6\div 12[/tex]
= $94.50
Learn more; https://brainly.com/question/1605083?referrer=searchResults
