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OpenStudy (anonymous):
A home builder obtained a preconstruction loan of $50,000 for 8 months at an annual interest rate of 6.5%. What is the simple interest due on the loan? (Round your answer to the nearest cent.) help please :)
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OpenStudy (anonymous):
2167.6(non terminating.)
OpenStudy (anonymous):
8/12 * 0.065 * $50000 = $2166.66666.... = $2166.67
OpenStudy (anonymous):
Sorry, 2166.6
OpenStudy (anonymous):
Thank You Both but the right aster it took is 2166.67
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