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Joe borrowed $900 from Sam for six months. How much will Sam earn if he charges Joe a simple interest rate of 4 percent?

Joe borrowed $900 from Sam for six months. How much will Sam earn if he charges Joe a simple interest rate of 4 percent?
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5 votes
Joe borrowed $900 from Sam for six months. How much will Sam earn if he charges Joe a simple interest rate of 4 percent?

User Marilynn
by
7.5k points

2 Answers

6 votes
Sam will earn $936.
This can be found by
1. Multiplying 900 by.04 (4% divided by 100) to get 36
2. Addind 900 and 36 to get 936
User Rohit Shinde
by
8.7k points
3 votes

is it $900 in total or per month?


User K L
by
8.8k points
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