Andrew borrows $79,500 for 5 months on 6.30% interest rate in his saving account. Calculate the simple interest?

Answer 1

I = PRT

I = 79,500 * 0.063 * 0.4167

I = ?

Answer 2

Ms. Sue, how did u get 0.4167? Is it supposed to be 5?

Answer 3

No. The interest is figured on a yearly basis. 5/12 = 0.4167

Answer 4

I got 0.342021?

Answer 5

Obviously that isn't right.

Did you multiply those three numbers together?

Answer 6

Yes, now I got 2,087.04195

Answer 7

What is the answer Ms.Sue

Answer 8

2087.04

Answer 9

i did not understand enything that you said and i looked in the coments hopeing that they would help me but is did not
thanks for the help

Answer 10

Steve took out a loan. The principal is $47,300. The rate is 3% and the length of the loan is 4 months. How much will the interest be?

Answer 11

Steve took out a loan. The principal is $47,300. The rate is 3% and the length of the loan is 4 months. How much will the interest be?