Question

Find the simple interest paid after 3 months on a loan of $9700 borrowed at an annual interest rate of 11%

Answer 1

Simple interest: P times R times t
P = start amount
R= interest rate as a decimal
t= times expressed as a ratio of a year

Answer 2

so
P=9700
R=0.11
t= 3/12 or 1/4 or 0.25

so its 9700(0.11)(0.25)