What is the interest on a loan of $200 if you borrow it for 24 months at a yearly interest rate of 9%?

Bas Van Ommen asked Dec 19, 2022

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Bas Van Ommen asked Dec 19, 2022

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8 votes

Answer:

$36

Explanation:

I = Prt

P = 200

r = 0.09

t = 24/12 = 2

I = 200 x 0.09 x 2

I = 36

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