Question

You will be charged 12.5% interest on a loan of $678. how much interest will you pay on the loan?

Answer 1

12.5% of 678 =
0.125(678) = 84.75 <==

Answer 2

It is given in the question that

You will be charged 12.5% interest on a loan of $678.

So to find the interest, we have to find 12.5% of 678. And 12.5% = 0.125

So we have to find the value of 0.125 of 678.

`0.125*678 = 84.75`

Therefore the interest that you will have to pay on loan is $84.75 .