PLEASE EXPLAIN YOUR REASONING!! If a loan is $2,000.00 at 12 percent annual interest and the loan was made on June 15 and due on December 15, what is the ordinary interest? A. $72.00 B. $24.00 C. $120.

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Rahul Vashishtha asked Sep 24, 2022

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PLEASE EXPLAIN YOUR REASONING!!

If a loan is $2,000.00 at 12 percent annual interest and the loan was made on June 15 and due on December 15, what is the ordinary interest?

A. $72.00
B. $24.00
C. $120.00
D. $240.00

Mathematics
high-school

Rahul Vashishtha asked Sep 24, 2022

by Rahul Vashishtha

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24 votes

Answer:

$120.00

Explanation:

Brian Beuning answered Sep 26, 2022

by Brian Beuning

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8 votes

Answer:

$120.00

Explanation:

2000/100 = $20 = 1%

20x12 = $240 = annual intrest = 12m

June 15 - December 15 = 6m

240/2 = $120 for half a year intrest!

Mikeyreilly answered Sep 29, 2022

by Mikeyreilly

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