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Find the simple interest kara owes on a 1.5-year loan of $1,500 at an annual interest rate of 7.5%.

Find the simple interest kara owes on a 1.5-year loan of $1,500 at an annual interest rate of 7.5%.
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Find the simple interest kara owes on a 1.5-year loan of $1,500 at an annual interest rate of 7.5%.

User Arthur Chaparyan
by
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1 Answer

5 votes
I = PRT/100

P = Principal, R = Rate, T = Time

I = 1500 * 7.5 * 1.5 /100

I = 168.75

Interest owed = $168.75
User Cgr
by
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Find the simple interest Kara owes on a 1.5-year loan of $1,500 at an annual interest rate of 7.5%.
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