SOLUTION: what is the total interest on a 3-year term loan of $1,250 with a simple interest rate of 10.5%?
Algebra.Com
Question 791207: what is the total interest on a 3-year term loan of $1,250 with a simple interest rate of 10.5%?
Answer by oscargut(2103) (Show Source): You can put this solution on YOUR website!
what is the total interest on a 3-year term loan of $1,250 with a simple interest rate of 10.5%?
Solution: 1,250(3)(0.105) = 393.75
Answer: 393.75
If you need more help with similar questions you can contact me now at:
mthman@gmail.com
Thanks
RELATED QUESTIONS
After 1 year, Jennifer paid $25 in simple interest on a loan. If she paid an annual... (answered by rfer)
You take out a 1-year, $5,000 loan at 8% simple annual interest. The lender charges you a (answered by rfer)
A loan yielded $60 per year simple interest. If the rate of interest increased by 0.5%... (answered by ikleyn)
You take out a loan of $15,000 to purchase a car.
If your loan is for 3 years at a... (answered by Boreal,MathTherapy)
A person borrows $10,000 at a 10% simple interest rate for 1/2 year. How much simple... (answered by jim_thompson5910)
Carla received a 750 simple interest loan with an annual interest rate of 1.5% and a 3... (answered by stanbon)
What is the simple interest on a loan of $600 for 3 years at 6%... (answered by solver91311)
Simple Loans. A $4000 loan, taken now, with a simple interest rate of 8% per year, will... (answered by rfer)