Question

$1900 at 5.9% interest for 18 months. What would the interest be?

Answer 1

To solve this problem, we will use PRT/100.

Where:

• P = principle = $1900 (As stated)
• R = rate = 5.9% (As stated)
• T = time = 18 months (As stated)

1. Converting the number of months into years.

`\bullet \ \ 1 \ \text{year} = 12 \ \text{months}`

`\bullet \ \ \rightarrow \text{x years = 12x months = 18 months}`

`\bullet \ \ \rightarrow (12x)/(12) = (18)/(12)`

`\bullet \ \ \rightarrow x = 1.5 \ \text{years}`

2. Using PRT/100:

`\bullet \ \ \rightarrow (P * R * T)/(100)`

`\bullet \ \ \rightarrow (1900 * 5.9 * 1.5)/(100)`

`\bullet \ \ \rightarrow19 * 5.9 * 1.5}`

`\bullet \ \ \rightarrow \boxed{\$168.15}`

Thus, the interest will be
`\bold{\$168.15}`.