SOLUTION: A person borrows $100,000 at a 6% simple interest rate for 1/2 year. How much simple interest I in dollars is owed on the loan at the end of 1/2 year? (Enter an exact number.)
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Question 1051989: A person borrows $100,000 at a 6% simple interest rate for 1/2 year. How much simple interest I in dollars is owed on the loan at the end of 1/2 year? (Enter an exact number.)
Answer by jorel555(1290) (Show Source): You can put this solution on YOUR website!
100000 x 1/2 x 6%=100000 x .03=$3000 interest due after 1/2 year. ☺☺☺☺
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