Gabriel

has

$67,740

in

a

savings

account.

The

interest

rate

is

10

%

per

year

and

is

not

compounded.

How

much

interest

will

he

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.

$

Save answer

To calculate the interest Gabriel will earn in 6 months, we use the formula:

\[
i = prt
\]

where:

- $ p = 67,740 $ (the principal amount)
- $ r = 0.10 $ (the interest rate as a decimal, since 10% = 0.10)
- $ t = 0.5 $ (time in years, since 6 months is half a year)

Now, plug in the values:

\[
i = 67,740 \times 0.10 \times 0.5
\]

Let's calculate this: 

\[
i = 67,740 \times 0.05 = 3,387
\]

So, the interest Gabriel will earn in 6 months is:

\[
\boxed{3,387}
\]

Would you like more details or have any questions?

### Related Questions:
1. How much interest would Gabriel earn in one year at the same rate?
2. What would the interest be if the interest rate was compounded annually instead?
3. How much total money will Gabriel have in his account after earning the interest?
4. What would the interest be for different time periods, like 3 months or 9 months?
5. How would the interest change if the rate were 8% instead of 10%?

### Tip:
Always convert the time period into years when using the simple interest formula!

Gabriel has $67,740 in a savings account. The interest rate is 10% per year and is not compounded. How much interest will he 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.

Learn how to calculate simple interest on a savings account with $67,740 at a 10% interest rate for 6 months. This guide walks you through using the formula i = prt, helping students grasp key concepts like principal, rate, and time. Suitable for Grades 6-8.

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