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Mr. Lambert borrows $900 from a credit union to buy a new laptop. The credit union charges 6.5 % simple interest per year. How much interest will he owe if it takes him 18 month…

Mr. Lambert borrows $900 from a credit union to buy a new laptop. The credit union charges 6.5 % simple interest per year. How much interest will he owe if it takes him 18 month…
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Mr. Lambert borrows $900 from a credit union to buy a new laptop. The credit union charges 6.5 % simple interest per year. How much interest will he owe if it takes him 18 months to repay the loan? Round to the nearest cent.

User Vu Anh
by
7.6k points

1 Answer

3 votes

$87.75

Explanation:

900×6.5%×18months

=58.5×1.5years

=87.75

User Kausha Mehta
by
7.9k points
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