Find the amount of interest payable if $400 is borrowed at 14% interest and is to be repaid in 6 months
1 answer:
Answer:
The amount of interest payable after 6 months is $28.
Step-by-step explanation:
Here, the Principal amount borrowed = $400
Rate of Interest = 14%
Time = 6 months = 6 / 12 years = 0.5 year
Now, SIMPLE INTEREST = 
So, here SI = 
or, SI = $28
Hence, the amount of interest payable after 6 months is $28.
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