Answer:
Interest = $47.34
Step-by-step explanation:
Formula:-
Simple interest I = PNR/100
P - Principle amount
N - number of years
R - Rate of interest
It is given that
P = $ 1600
R = 6%
Number of days = 180 days
To find the simple interest for 1 year(365 days)
I = PNR/100
= (1600 * 1 * 6)/100 = $96
To find the interest for 180 days
For 365 day I = $96
For 180 days I = (180/365) * 96
I = $47.34
