Answer:
Formula : Is = prt
where ;
p - principal amount
r - interest rate
t - time
Given :
P - Php. 13,250.00
r - 6 ⅛ % = 0.06 ( recall the topic about changing fractions into decimal )
t - 6 months = 0.5 year ( time must be always in years )
Solution :
Is = Prt
Is = (13,250)(0.06)(0.5)
Is = 397.5
Answer : Simple Interest = 397.5
