SOLUTION: find the simple interest payable on a loan of $7200 at a simple interest rate of 11.5% p.a. of:
a) 3.5 years and b) 15 months
Algebra.Com
Question 1000811: find the simple interest payable on a loan of $7200 at a simple interest rate of 11.5% p.a. of:
a) 3.5 years and b) 15 months
Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
A)
I=Prt
I=7200*0.115*3.5
I=2898
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B)
I=Prt
I=7200*0.115*1.25
I=1035
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