Question

@31356 plz help :D
I have had people try to help me but I just don't get it :( could you try to explain it? :D

How much simple interest will be due on a loan of $7000 at a 3.75% annual interest rate for one year?








A.
$7262.50







B.
$2625.00







C.
$262.50







D.
$37.50

Answer 1

:D hi! :D

Answer 2

Let me see.......

Answer 3

Hey!!
Happy St. Patrick's Day, lol :D

Answer 4

lol! u too!!

Answer 5

C, all you do is turn 3.75 into a decimal, then multiply it by 7000. Then you get your answer.

Answer 6

Indeed :D

Answer 7

i = prt
recall that the rate has to be in "decimal format"
so \(\bf {\color{red}{ 3.75}}\%=\cfrac{{\color{red}{ 3.75}}}{100}\implies 0.0375\)

Answer 8

Great explanation! :D

Answer 9

3.75 as a decimal is 0.0375. :)

Answer 10

thx!

Answer 11

interest = principal * rate * year
i = 7,000 * 0.0375 * 1

Answer 12

.....ugh!...now im soooo super confused!!! :(

Answer 13

Just multiply the percent (0.0375) x 7000 which gives you C. :)
You can get the decimal by divided it my 100.

Answer 14

To find the simple interest, we multiply 7000 × 0.0375 × 1

Answer 15

Hope that isn't confusing :/

Answer 16

For every $100 for one year, $3.75 interest will be paid or owed because 3.75% of $100 is $3.75

How many $100's in $7000?

Answer 17

thx @31356 and @Bella5...OH!!..and @whpalmer4 :D :D :D triple smile's!

Answer 18

Yea triple smileys!!! :D

Answer 19

:D x 3
There is some more math!

Answer 20

:)

Answer 21

Indeed

Answer 22

What do you get for the answer? The third one? ;-)

Answer 23

Yea, that's what I got too D:

Answer 24

I meant :D

Answer 25

Thanks for the medals! :D