SOLUTION: 8 hundred dollars is borrowed at an interest rate of 1.5% per month. Find the interest paid over the period of 5 months.
$860 right?
Thank you
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Question 40882: 8 hundred dollars is borrowed at an interest rate of 1.5% per month. Find the interest paid over the period of 5 months.
$860 right?
Thank you
Answer by rajagopalan(174) (Show Source): You can put this solution on YOUR website!
Dear Student ..
The formula for interest is = PNR/100
if you substiute values we get
interest = 800x5x1.5/100 = 60
The interest payable is only 60.
Your answer is for amount
Correct answer is 60 only .. Cheers
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