Find the simple interest

principal $300
rate 6.5%
time 1/2 year
Asked Nov 07, 2013
use exponetials. b=B*e^kt

b is current balance, B is inital balance k a constant you need to determine from the interest rate and t the time. just like the eqn for radioactive decay but with positive graident on function.
Answered Dec 01, 2013

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