To calculate simple interest, we use the formula:

$I = P \times r \times t$

Where:

• $P$ is the principal amount (initial money invested)
• $r$ is the annual interest rate (as a decimal)
• $t$ is the time in years

Given:

• $P = 3600$ dollars
• $r = 5.1\% = 0.051$
• $t = 6$ months, which is $\frac{6}{12} = 0.5$ years

Calculation:

$I = 3600 \times 0.051 \times 0.5 = 91.8$

The simple interest earned is $91.80.

Would you like more details or have any questions?

Related Questions:

1. How would the interest change if the time was 1 year instead of 6 months?
2. What would the total amount be after adding the interest to the principal?
3. How is compound interest calculated differently than simple interest?
4. If the interest rate was doubled, what would be the new interest earned?
5. How would the interest be affected if the investment period was shortened to 3 months?

Tip:

Always convert the time to years when using the simple interest formula, as the interest rate is typically given as an annual percentage.