SOLUTION: If you take out a loan for one year for 4,500.00. What would be the simple interest on this loan if the annual percentage rate were 6.5%
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Question 617308: If you take out a loan for one year for 4,500.00. What would be the simple interest on this loan if the annual percentage rate were 6.5%
Answer by MathStudent15(9) (Show Source): You can put this solution on YOUR website!
Well, the formula for finding interest is
So plug in the price, rate, and time. Then, solve and you have your answer.
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