SOLUTION: Could you please help me solve this problem? What simple interest will you pay on a loan of $1,458 at 12.4% for 1 year? Thanks, Sher

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Question 39715: Could you please help me solve this problem?
What simple interest will you pay on a loan of $1,458 at 12.4% for 1 year?
Thanks,
Sher
Answer by Nate(3500) About Me  (Show Source):
You can put this solution on YOUR website!
I+=+PRT interest yields rate times time times principle
I+=+1458%28.124%29%281%29
About $180.79