SOLUTION: Find the interest on the following loan. Round to the nearest cent as needed. $1450 at 9.5% for 9 months The interest is how much?

Algebra ->  Finance -> SOLUTION: Find the interest on the following loan. Round to the nearest cent as needed. $1450 at 9.5% for 9 months The interest is how much?      Log On


   

Question 1182558: Find the interest on the following loan. Round to the nearest cent as needed.
$1450 at 9.5% for 9 months
The interest is how much?
Answer by Boreal(15235) About Me  (Show Source):
You can put this solution on YOUR website!
I=prt=1450*0.095*0.75, the last being 3/4 of a year
=$103.31