Answer:
$12.06
Explanation:
The applicable formula is
A = P( 1 + r) ^ n
where A is the amount after 6 months
P= principal amount: $600
r=4% per year, or 0.04. interest per quarter = 0.04/ 4= 0.01
n = number of periods . 6 months has 2 quarters. n =2
A= $600(1+0.01)^2
A=$600(1.01)^2
A=$600 x 1.0201
A=$612.06
Interest = $612.06- $600
=$12.06
