Simple interest on a $1,250,000, 9%, 15-month note is
A) $ 90,000.
B) $112,500.
C) $140,625.
D) $168,750.

Name: Simple interest on a $1,250,000, 9%, 15-month note is A) $ 90,000. B) $112,500. C) $140,625. D) $168,750.
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Quizplus · Accepted Answer

Simple interest is calculated using the formula: Interest = Principal x Rate x Time. Here, the principal is $1,250,000, the rate is 9% (or 0.09), and the time is 15 months (or 15/12 years). Therefore, the interest is $1,250,000 x 0.09 x (15/12) = $140,625.

Simple Interest on a $1,250,000, 9%, 15-Month Note Is