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Justin loans his uncle $2,500. He charges 6.5% simple interest. His uncle pays him back in 2.5 years. How much interest does his uncle pay?
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19 votes
Justin loans his uncle $2,500. He charges 6.5% simple interest. His uncle pays him back in 2.5 years. How much interest does his uncle pay?

User Veniamin
by
7.3k points

2 Answers

6 votes
The answer is $406.25
Use the simple equation I=prt
Interest= price x rate x time
User Christos Lytras
by
7.5k points
13 votes

Answer:

$406.25

Explanation:

use an interest calculator :)

User Sistr
by
7.8k points
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