Question

What is the interest on a loan of $7,850 that is borrowed at 6.55% for 18 months?

Answer 1

Answer:

${ \tt{simple \: interest = }} \\ { \tt principle \times rate \times period}\\ \\ = 7850 \times 6.55\% \times 18 \\ { \tt{interest = 925515 \: dollars}}$

Answer 2

Answer:

$925,515

Step-by-step explanation:

multiply 7850 by 131/ 20 because 6.55 as a fraction is 131/20 and then multiply it by 18 and divide it by 20 which is the denominator of 131/20