Register
How much interest will be paid in 1 year for a loan of $4500 at 7 1/2% simple interest?
188k views
4 votes
How much interest will be paid in 1 year for a loan of $4500 at 7 1/2% simple interest?

User Slfan
by
7.4k points

1 Answer

4 votes
Interest=Principal times Rate times Time

given
Principal=4500
rate=7.5%=0.075
T=1 year

Interest=4500 times 0.075 times 1
Interest=337.5


interest=$337.50
User Kachi
by
8.6k points
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.5m questions

12.2m answers

Other Questions

i have a field 60m long and 110 wide going to be paved i ordered 660000000cm cubed of cement  how thick must the cement be to cover field
Write words to match the expression. 24- ( 6+3)
A dealer sells a certain type of chair and a table for $40. He also sells the same sort of table and a desk for $83 or a chair and a desk for $77. Find the price of a chair, table, and of a desk.
The cost of 5 similar digital cameras and 3 similar video cameras is 3213. Each video camera costs 4 times as much as each digital camera. John buys a digital camera and a video camera. How much does he
Mr. Jacob is 55 years old and tony is 7 years old. in how many years will mr. Jacobs be 4 times as old as Tony
Link Copied!