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Find the simple interest charged for a loan of: a $2000 for 3 months at 1.1% per month
asked
Jan 12, 2023
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Find the simple interest charged for a loan of:
a $2000 for 3 months at 1.1% per month
Mathematics
college
SouravA
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SouravA
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1
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Answer:
$5.50
Explanation:
I = Prt
P = $2,000
r = 1.1% = 0.011
t = 3 months = 0.25 years
Solving :
I = (2,000)(0.011)(0.25)
I = (500)(0.011)
I =
$5.50
Rachid Finge Jr
answered
Jan 18, 2023
by
Rachid Finge Jr
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