Question

What is the interest on a loan of $200 if you borrow it for 24 months at a yearly interest rate of 9%?

Answer 1

Answer:

$36

Step-by-step explanation:

I = Prt

P = 200

r = 0.09

t = 24/12 = 2

I = 200 x 0.09 x 2

I = 36