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How much simple interest will be paid on $600.00 loan for 1 year of the interest rate is 7%?
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How much simple interest will be paid on $600.00 loan for 1 year of the interest rate is 7%?

How much simple interest will be paid on $600.00 loan for 1 year of the interest rate-example-1
User Michael Erickson
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2 Answers

6 votes
I believe it's A.

Hope this helps!
User Teekkari
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3 votes
Using the equation I = Prt
P = 600
r = 7% = 0.07
t = 1
600* 0.07 * 1 = 42
A is your answer
User Fahime Ghasemi
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5.3k points
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