SOLUTION: Solve the problem below:
a) How much interest is charged when 50,000 pesos is borrowed for 9 months at an annual simple interest rate of 10% ?
Question 1052664: Solve the problem below:
a) How much interest is charged when 50,000 pesos is borrowed for 9 months at an annual simple interest rate of 10% ? Answer by Alan3354(69443) (Show Source):
You can put this solution on YOUR website! How much interest is charged when 50,000 pesos is borrowed for 9 months at an annual simple interest rate of 10% ?
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10% = 0.1
9 months = 3/4 year
Interest = 50000*0.1*(3/4)
= 3750 pesos
