To calculate the annual interest rate equivalent to 15% for a period of 6 months, you can use the formula for calculating simple interest:
\[ I = P \times r \times t \]
Where:
- \( I \) = Interest earned
- \( P \) = Principal amount (initial amount of money)
- \( r \) = Interest rate per time period (in decimal form)
- \( t \) = Time period (in years)
Given:
- \( I = 15\% \) (annual interest rate)
- \( t = 6 \) months (which is \( \frac{1}{2} \) year)
Let's solve for \( r \):
\[ r = \frac{I}{P \times t} \]
\[ r = \frac{15\%}{P \times \frac{1}{2}} \]
\[ r = \frac{15\%}{\frac{1}{2}} \]
\[ r = 15\% \times 2 \]
\[ r = 0.15 \times 2 \]
\[ r = 0.30 \]
So, the interest rate per 6-month period is \( 0.30 \) (or 30% when expressed as a percentage).
To convert it to an annual rate, you simply multiply it by the number of periods in a year:
\[ \text{Annual interest rate} = r \times \text{Number of periods in a year} \]
Since there are 2 periods of 6 months in a year:
\[ \text{Annual interest rate} = 0.30 \times 2 \]
\[ \text{Annual interest rate} = 0.60 \]
So, the annual interest rate equivalent to 15% for a period of 6 months is 60%.

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