Question

How much interest will be paid in 1 year for a loan of $3600 at 8 1/2% simple interest?
will give medal

Answer 1

\(\bf i=prt
\\ \quad \\
p=3,600\qquad t=1
\\ \quad \\
r=8\frac{1}{2}\%\implies \cfrac{8\frac{1}{2}}{100}\implies \cfrac{\frac{17}{2}}{100}\implies \cfrac{17}{2}\cdot \cfrac{1}{100}\implies 0.085\)

Answer 2

Interest = principle * rate * time
I = PRT
P = 3600
T = 1
R = 8 1/2% = 8.5% = .085

now sub
I = 3600 (.085)(1)

can you finish ?

Answer 3

jdoe...you type fast...lol