Simple interest on a $25,000, 8%, 18-month note is
A) $22,000.
B) $23,000.
C) $3,000.
D) $2,000.

Name: Simple interest on a $25,000, 8%, 18-month note is A) $22,000. B) $23,000. C) $3,000. D) $2,000.
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Quizplus · Accepted Answer

Simple interest is calculated as $ \text{Interest} = \text{Principal} \times \text{Rate} \times \text{Time} $, where time is in years. For this problem, it's $ \$25,000 \times 0.08 \times \frac{18}{12} = \$3,000. $

Simple Interest on a $25,000, 8%, 18-Month Note Is