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1 vote
1 vote
Select the correct answer.

Vincent borrowed $500 from Mitchell for six months. How much interest will Mitchell earn if he charges Vincent a simple interest rate of 3 percent?

simple interest = P × r × t
A.
$7.50
B.
$15
C.
$75

User Mroach
by
2.8k points

1 Answer

11 votes
11 votes

Answer:

A

Explanation:

I= PRT


simple \: interest = (500 * 3 * 1)/(100 * 2)


= (1500)/(200)

=$7.50

User Alaa Kanaan
by
2.9k points