Answer:
[tex]\$44.42[/tex]
Step-by-step explanation:
we know that
The simple interest formula is equal to
[tex]I=P(rt)[/tex]
where
I is the amount of money in interest
P is the Principal amount of money to be invested
r is the rate of interest
t is Number of Time Periods
in this problem we have
[tex]t=(180/365)=0.49\ years\\ P=\$1,295\\r=0.07[/tex]
substitute in the formula above
[tex]I=1,295(0.07*0.49)=\$44.42[/tex]
