SOLUTION: solve and check what amount of interest will you pay on a $8200 loan for 1 year if the interest rate is 15$ anually? I came up with $1230 but not sure how to set the problem

Algebra ->  Algebra  -> Customizable Word Problem Solvers  -> Finance -> SOLUTION: solve and check what amount of interest will you pay on a $8200 loan for 1 year if the interest rate is 15$ anually? I came up with $1230 but not sure how to set the problem       Log On

Ad: Over 600 Algebra Word Problems at edhelper.com
Ad: Algebrator™ solves your algebra problems and provides step-by-step explanations!
Ad: Algebra Solved!™: algebra software solves algebra homework problems with step-by-step help!

   


Question 117905: solve and check
what amount of interest will you pay on a $8200 loan for 1 year if the interest rate is 15$ anually?
I came up with $1230 but not sure how to set the problem up.
8200=1*15x
x=
am I going in the right direction

Answer by stanbon(48558) About Me  (Show Source):
You can put this solution on YOUR website!
What do you mean by an interest rate of 15$ ?
Cheers,
Stan H>