SOLUTION: please help me find the simple interest on a loan of $4500.00, taken out for one year and the annual percentage rate is 6.5%.

SOLUTION: please help me find the simple interest on a loan of $4500.00, taken out for one year and the annual percentage rate is 6.5%.

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Question 592873: please help me find the simple interest on a loan of $4500.00, taken out for one year and the annual percentage rate is 6.5%.
Answer by jim_thompson5910(35256) (Show Source): You can put this solution on YOUR website!
I = Prt

I = 4500(0.065)(1)

I = 292.50

So the simple interest is $292.50
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