11590
contestada

You are tired at the end of the term and decide to borrow $500 to go on a trip to Whatever Land. You go to the bank and borrow the money at an annual rate of 11% for 6 months. Find the interest you will pay on the loan.

Respuesta :

Hrishii

Answer:

$27.5

Step-by-step explanation:

P =$500, R = 11 pcpa, T = 6 months = 1/2 years

[tex]I = \frac{PRT}{100} = \frac{500 \times 11 \times \frac{1}{2} }{100} \\ \\ = 5 \times 11 \times \frac{1}{2} \\ \\ = 55 \times \frac{1}{2} \\ \\ I= \$ 27.5[/tex]

Otras preguntas