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Harlamova29_29 [7]
4 years ago
11

how much interest will have to be paid on a loan of $18467 for 8 months at a simple interest rate of 12.6% per year? round to th

e nearest cent
Mathematics
1 answer:
liberstina [14]4 years ago
4 0
Simple interest = PitwhereP=principal= 18467i=annual interest rate=12.6%=0.126t=time in years=8/12=2/3

Therefore
interest = 18467*0.126*2/3=$1551.23   after 8 months
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