SOLUTION: Please help me with these two problems: Find the actual interest paid, to the nearest tenth, on the simple discount note. $27,000; discount rate 7%; length of loan 3 mo. $

SOLUTION: Please help me with these two problems: Find the actual interest paid, to the nearest tenth, on the simple discount note. $27,000; discount rate 7%; length of loan 3 mo. $

Algebra.Com

Question 203909: Please help me with these two problems:
Find the actual interest paid, to the nearest tenth, on the simple discount note.
$27,000; discount rate 7%; length of loan 3 mo.
$50,000; discount rate 8%; length of loan 6 mo.
Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
1) 21000*.07*.25=$472.50
2) 50000*.08*.5=$2000.00
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