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

Name: Interest on a six-month,7 percent,$2,000 note is calculated by multiplying $2,000 × 7/100 × 6/12.
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Quizplus · Accepted Answer

This is true. To calculate the interest on a note, you need to multiply the principal (in this case, $2,000) by the interest rate (7%) and the time period (6/12 represents 6 months out of 12 months in a year). So, $2,000 × 7/100 × 6/12 gives the interest earned on the note.

Interest on a Six-Month,7 Percent,$2,000 Note Is Calculated by Multiplying