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Mark borrows $2500. His loan is for 6 months and has a 12% interest rate. How much interest will Mark pay on the loan?
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13 votes
Mark borrows $2500. His loan is for 6 months and has a 12% interest rate.

How much interest will Mark pay on the loan?

User Bogdan Ruzhitskiy
by
7.3k points

2 Answers

7 votes

Answer:

$150.00

Explanation:

2500x.12x.5= 150.00

User Karri
by
7.9k points
8 votes

Answer:

either 300 or 1800

Explanation:

depends on if they are counting for one month or the whole 6 months.

User CheapSteaks
by
9.1k points
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