A company borrows $50,000 at 6% for 6 months. Find the amount of simple interest that is due and the total amount that must be paid after 6 months.

AYK asked Jul 1, 2023

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41 votes

A company borrows $50,000 at 6% for 6 months. Find the amount of simple interest that

is due and the total amount that must be paid after 6 months.

AYK asked Jul 1, 2023

by AYK

3.2k points

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23 votes

Answer:

$1,479.45

l= $50.000*0.06(6%=0.06)*(180/365)

I=3000*0.4931

I=1,479.45

Explanation:

Maged answered Jul 7, 2023

by Maged

3.0k points

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