judithmena5432 judithmena5432

02-12-2021
Mathematics

contestada

If a loan for $500 at 8.75% interest per year is paid in 3 months, how much is the
interest? (Use I = PRT)

Respuesta :

sqdancefan sqdancefan

02-12-2021

Answer:

$10.94

Step-by-step explanation:

In the given formula, T is in years. 3 months is 3/12 years, so your interest is ...

I = PRT

I = $500×0.0875×1/4 = $10.9375 ≈ $10.94

$10.94 is the interest paid on the loan.

Answer Link

Otras preguntas

What is the dominant religion of India? A) Buddhism B) Christianity C) Hinduism D) Islam Help ;_;

josh walks 18 dogs each week. today he is walking 1/3

Find the discount rate on a $15 cap that is on sale for $13.50

what is the decimal that is equivalent to 3 and 10 hundredths

Strasbourg is in the ___________ ________ region of France. Strasbourg has a large ____ ______________ influence due to its close geographical proximity. The do

A is a horizontal stem at or just beneath the surface of the ground which can give rise to roots or stems.

allow is to permit as defy is to

You are preparing for a breakfast party and need enough milk for 20 people. Each person will drink about 200 milliliters of milk. Which is the better estimate o

What did Parliament vote to end in 1766?

A person who was trapped outside in a snowstorm would most likely be suffering from _____. hypothermia hyperthermia