shantol shantol

20-05-2014
Mathematics

Answered

Sam borrows $1,000 from a bank that is charging eight percent simple interest per year. If he pays the loan back in six months, how much interest will he pay?

Verified Answer :

Anonymous Anonymous

07-07-2014

\(8\%:2=4\%=0.04\\\\0.04\ \times\ \$1,000=\$40\leftarrow answer\)

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