Answer: interest at the end of 6 months is $10.62
Step-by-step explanation:
The formula for simple interest is expressed as
I = PRT/100
Where
P represents the principal
R represents interest rate
T represents time in years
I = interest after t years
From the information given
T = 6 months = 6/12 = 0.5 years
P = $354
R = 6%
Therefore
I = (354 × 6 × 0.5)/100
I = 1062/100
I = 10.62
