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Question 4 of 10, Step 1 of 1 Correct How much simple interest would be paid on a loan of $10,140 at 8 % for 5 months? Round your answer to nearest cent. assume 360 days in a ye…

Question 4 of 10, Step 1 of 1 Correct How much simple interest would be paid on a loan of $10,140 at 8 % for 5 months? Round your answer to nearest cent. assume 360 days in a ye…
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Question 4 of 10, Step 1 of 1

Correct
How much simple interest would be paid on a loan of $10,140 at 8 % for 5 months? Round your answer to nearest cent. assume 360 days in a year 30 days in a month

User CanUver
by
7.8k points

1 Answer

5 votes

Answer:

338

Explanation:

10,140x.08=811.20 annual interest

811.20/360 x 150(5 months)=338

User Matt Culbreth
by
8.3k points
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