SOLUTION: Find the simple interest paid on a $550 loan at 2.2% annual interest for 12 months

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Question 1099726: Find the simple interest paid on a $550 loan at 2.2% annual interest for 12 months
Found 2 solutions by Fombitz, Boreal:
Answer by Fombitz(32388) About Me  (Show Source):
You can put this solution on YOUR website!
I=550%282.2%2F100%29
Work that out with a calculator.

Answer by Boreal(15235) About Me  (Show Source):
You can put this solution on YOUR website!
I=prt=550*0.022*1, for 1 year=$12.10 interest.