Answer:
Interest earned is $25.2
Step-by-step explanation:
The formula to find simple interest is:
I = P₀rt
Where
I = interest rate
P₀ = Principal amount
r = interest rate
t= time
5 months = 5/12 years = 0.42 years
I = 1000* 6/100*0.42
I = 1000*0.06*0.42
I = 60*0.42
I = 25.2
Interest earned is $25.2
