PLEASE EXPLAIN YOUR REASONING!! If a loan is $2,000.00 at 12 percent annual interest and the loan was made on June 15 and due on December 15, what is the ordinary interest? A. $…

Question

asked Mar 15, 2022 185k views

2 Answers

Eric Smalling · Answer 1 · 2022-03-20T03:05:02+0000

Answer:

$120.00

Explanation:

2000/100 = $20 = 1%

20x12 = $240 = annual intrest = 12m

June 15 - December 15 = 6m

240/2 = $120 for half a year intrest!