SOLUTION: Faye has a home equity loan of $70,000. The bank charges Faye 6 % per annum simple interest. What is the interest charge on Faye's loan after one month?

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Question 643824: Faye has a home equity loan of $70,000. The bank charges Faye 6 % per annum simple interest. What is the interest charge on Faye's loan after one month?
Answer by showe9(33) About Me  (Show Source):
You can put this solution on YOUR website!
.06x70000=4200
4200/12=350
Answer: 350