3 years ago

Find the simple interest paid to the nearest cent for each loan, interest rate, and time. $500, 12%, 18 months

Mathematics

2 answers:

iris [78.8K]3 years ago

4 0

Answer: The interest is $60

Step-by-step explanation:

500*112%=$560

560/18=$31.11

$60 in interest is paid, or an additional $3.33 a month (Bringing the monthly loan payment to a grand total of $31.11)

Olenka [21]3 years ago

3 0

Your answer would be $60

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