Question

I CANT GO TO SLEEP UNTIL SOMEONE ANSWERS DIS QUESTION

please explain how you got your answer please!

If you take a loan for $550 at 7.2% simple interest and make no payments for 6 months, how much do you owe total?

Answer 1

I think that the answer is $569.8. 550 times 0.072 times 0.5 (half a year) is 19.8, then 550 + 19.8 is 569.8.