SOLUTION: What is the interest on Principal of $2,400, borrowed at 13.75% rate, for 5 months?

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Question 1012546: What is the interest on Principal of $2,400, borrowed at 13.75% rate, for 5 months?
Answer by stanbon(75887) About Me  (Show Source):
You can put this solution on YOUR website!
What is the interest on Principal of $2,400, borrowed at 13.75% rate, for 5 months?
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I = P*r*t
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I = 2400*0.1375*(5/12) = $137.50
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Cheers,
Stan H.
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