Find the simple interest on each loan.
-The bank loans you $\$ 7000$ at $7 \%$ interest for 6 months. Find the total amount due on the loan.

Name: Find the simple interest on each loan. -The bank loans you $\$ 7000$ at $7 \%$ interest for 6 months. Find the total amount due on the loan.
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Question

Quizplus · Accepted Answer

Simple interest = Principal * Rate * Time= 7000 * 7/100 * 6/12= 7000 * 7 * 1/2 * 1/100= 7000 * 7 * 1/200= 7000 * 35/100= 2450Total amount due = Principal + Simple interest= 7000 + 2450= 7245

Find the Simple Interest on Each Loan $7000\$ 7000$7000 At 7%7 \%7%

Find the Simple Interest on Each Loan $\$ 7000$ At $7 \%$