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ropapabbdullyC
ropapabbdullyC ropapabbdullyC
  • 05-07-2016
  • Mathematics
Answered

Joe borrowed $900 from Sam for six months. How much will Sam earn if he charges Joe a simple interest rate of 4 percent?

Verified Answer :

andriansp andriansp
  • 07-07-2016

So you're basically asked for total interest earning.

simple interest of 4 % means that joe have to pay 4 % interest of 900 in the period of 1 year

since joe only borrowed it for 6 months, you can find it with this formula :

$900 x 6/12 x 4 % =  $ 18

hope this helps

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