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27 April, 12:08

Find the simple interest paid to the nearest cent for each loan, interest rate, and time. $500, 12%, 18 months

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  1. 27 April, 12:16
    0
    Answer: The interest is $60

    Step-by-step explanation:

    500*112%=$560

    560/18=$31.11

    $60 in interest is paid, or an additional $3.33 a month (Bringing the monthly loan payment to a grand total of $31.11)
  2. 27 April, 12:16
    0
    Your answer would be $60
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