How much simple interest will be due on a loan of $7000 at a 3.75% annual interest rate for one year?
lil brother needs it done and I'm busy with my own Algebra so.

Question

How much simple interest will be due on a loan of $7000 at a 3.75% annual interest rate for one year?
lil brother needs it done and I'm busy with my own Algebra so.

mathmale · Answer

Hey!  This'd be a great opportunity to put your little bro online:  have him sign up with OpenStudy, OK?

Hey, Little Bro:  The formula for simple interest is I=prt, where I=amount of interest; p=principal; r=interest rate as a decimal fraction; and t=time (in years).  Try it.

anonymous · Answer

Thanks for helping him. :) And yes, I'd much prefer him using his 'own' account since I have a level of 50.

mathmale · Answer

Drew:  Congrats.  Be really nice (even nicer) to Li'l Bro until he finally signs up.  Or, sit down with him (not forgetting to be nice to him) and guide him through signing himself up.  :)

anonymous · Answer

Okay, I will. :)

mathmale · Answer

:)