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Answer:
$0.231
Step-by-step explanation:
Given data
P= $77
r= 16%
t= 6 months= 0.5 years
For simple interest
A= P(1+rt)
A=77(1+0.16*0.5)
A= 77(1+0.08)
A= 77*1.08
A= $83.16
For compound interest
A=P(1+r)^t
A= 77(1+0.16)^0.5
A= 77(1.16)^0.5
A= 77*1.077
A= $82.929
The difference is
=83.16- 82.929
=$0.231