Question

Jacob took out a loan for $5,400 at a simple interest rate of 3.5% for 6 months. How much interest did he owe?

A) $94.50
B) $113.40
C) $1134.00
D) $9450.00

Answer 1

It’s going to be c give the other person credit

Answer 2

C

Explanation:

You can solve this problem by converting 3.5% into its numerical form, (.035) and multiplying by 6 (the number of months) to get the total amount of interest due (21%) you then convert the total amount of interest into numerical form (.21) and multiply with the total loan to get 1134.00