Robert Duncan made a $1500 deposit to savings account paying 1.6 annual interest compounded semi annually if he kept the money on the deposit for six months how much interest did Robert earn?

Answer: $12Step-by-step explanation:The formula to calculate the compound interest , if the interest is compounded semi-annually :-[tex]A=P[(1+\dfrac{r}{2})^{2t}-1][/tex] , where P = Principal amount r = rate of interest ( in decimal)t= Time ( in years)Given : P= $1500 r= 1.6 % =0.016t= 6  months = [tex]\dfrac{1}{2}[/tex] year  [∵ 1 year = 12 months]Then, the interest earned by Robert in 6 months will be :-[tex]A=1500[(1+\dfrac{0.016}{2})^{2\cdot\frac{1}{2}}-1][/tex] [tex]A=1500[(1+0.008)^{1}-1][/tex] [tex]A=1500[1.008-1][/tex] [tex]A=1500[0.008]=12[/tex] Hence, Robert earned $12 as interest .