3-3 Example 1 Find the simple interest earned on an investment of $500 at 7.5% for 6 months. 1. Write the simple interest formula. I = prt Lesson 3-3 Example.

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3-3 Example 1 Find the simple interest earned on an investment of $500 at 7.5% for 6 months. 1. Write the simple interest formula. I = prt Lesson 3-3 Example 1

3-3 Example 1 Find the simple interest earned on an investment of $500 at 7.5% for 6 months. 2. Write the decimal for 7.5%. 0.075 The time is not given in years. 6 months = 0.5 year Lesson 3-3 Example 1

3-3 Example 1 Find the simple interest earned on an investment of $500 at 7.5% for 6 months. 3. Substitute the principal, rate, and time into the formula. I = 500 ● 0.075 ● 0.5 = 18.75 Lesson 3-3 Example 1

3-3 Example 1 Find the simple interest earned on an investment of $500 at 7.5% for 6 months. 4. The amount of interest earned is $18.75. Lesson 3-3 Example 1