SOLUTION: What amount of interest will you pay on a $8200 loan for 1 year if the interest rate is 15% annually?

Algebra ->  Customizable Word Problem Solvers  -> Finance -> SOLUTION: What amount of interest will you pay on a $8200 loan for 1 year if the interest rate is 15% annually?      Log On

Ad: Over 600 Algebra Word Problems at edhelper.com


    

Question 117987: What amount of interest will you pay on a $8200 loan for 1 year if the interest rate is 15% annually?
Answer by stanbon(75887) About Me  (Show Source):
You can put this solution on YOUR website!
What amount of interest will you pay on a $8200 loan for 1 year if the interest rate is 15% annually?
--------------
I=Prt
I = 8200*0.15*1
I = $1230.00
================
Cheers,
Stan H.