Question

Mikael has a loan of $40 000.

He pays 1.6% simple interest for six months
How much interest does he pay altogether?

Answer 1

Explanation:

Based on the given conditions,

`formulate: 1.6\% * 40000 * 12 / 12</u></strong></p><p></p><p><strong><u>[tex] formulate: 1.6\% * 40000 * 12 / 12Reduce the fraction: \frac{2 * 40000</u></strong><strong><u>}</u></strong><strong><u>{125}</u></strong></p><p></p><p><strong><u>[tex] formulate: 1.6\% * 40000 * 12 / 12Reduce the fraction: (2 * 40000)/(125)`

[tex]Reduce the fraction: 2 \times320

[tex]Reduce the fraction: 2 \times320Calculate the product orquotient: 640[tex]

Answer 640

Answer 2

`\sf\longmapsto \: 640`

Explanation:

Based on given cases:

`\sf \: Formulate: 1.6\% * 40000 * 12 / 12`

Reduce the fraction:

`\sf \longmapsto \: (2 * 40000)/(125)`

`\sf \longmapsto \: 320 * 2`

Calculate the product/quotient:

`\sf\longmapsto \: 640`