Interest on a six-month, 7 percent, $2,000 note is calculated by multiplying $2,000 $\times$ 7/100 $\times$ 6/12.

Name: Interest on a six-month, 7 percent, $2,000 note is calculated by multiplying $2,000 $\times$ 7/100 $\times$ 6/12.
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This is the correct formula for calculating simple interest on a note. Multiplying the principal ($2,000) by the interest rate (7/100) and the time in years (6/12, or 0.5) gives the interest earned over six months.

Interest on a Six-Month, 7 Percent, $2,000 Note Is Calculated ×\times×

Interest on a Six-Month, 7 Percent, $2,000 Note Is Calculated $\times$