Question

A friend of yours asks you for a loan of 2500 to invest in his toy sales business. You agree to apply a simple interest rate of 45% per year, and that the loan will be returned in 6 months. How much interest will he pay you?

232

likes

1162 views

Answer to a math question A friend of yours asks you for a loan of 2500 to invest in his toy sales business. You agree to apply a simple interest rate of 45% per year, and that the loan will be returned in 6 months. How much interest will he pay you?

$Expert avatar$

Corbin

4.6

107 Answers

1. Find the principal amount:

P = 2500

2. Find the annual interest rate:

R = 0.45

3. Find the time in years (6 months is 0.5 years):

T = 0.5

4. Use the simple interest formula:

I = P \times R \times T

5. Substitute the values into the formula:

I = 2500 \times 0.45 \times 0.5

6. Calculate the interest:

I = 562.50

The interest he will pay you is

562.50

Frequently asked questions (FAQs)

What is the median of a dataset with an odd number of values if the values are 2, 5, 8, 10, 13, 15, 16?

Math question: Find the limit as x approaches infinity of (e^x - x^5) / (e^(2x) - x^2).

Question: What is the graph of the logarithmic function f(x) = log(base 2)(x+3) - 3

New questions in Mathematics

A circle with a 12-inch diameter is folded in half and then folded in half again. What is the area of the resulting shape?

The sum of an infinite geometric series is 13,5 The sum of the same series, calculated from the third term is 1,5. Q. Calculate r if r>0.

3x+5y=11 2x-3y=1

*Question!!* *Victory saved 3,000 in first bank and 2,000 Naira in union bank PSC with interest rate of X% and Y% per annual respectively his total interest in one year is #640. If she has saved 2,000 naira with first bank and 3,000 naira in union bank for same period she would have made extra 20# as additional interest, then find the value of X and Y

132133333-33

Suppose SAT reading scores are normally distributed with a mean of 496 and a standard deviation of 109. The University plans towards scholarships for students who scores are in the top 7%. What is the minimum score required for the scholarship round your answer to the nearest whole number.

The thermal representation f(x) = 20 times 0.8 to the power of x is known from an exponential function f. Specify the intersection point with the y-axis

During a fishing trip Alex notices that the height h of the tide (in metres) is given by h=1−(1/2)*cos(πt/6) where t is measued in hours from the start of the trip. (a) Enter the exact value of h at the start of the trip in the box below.

A stunt man jumps horizontally from a building to the roof of a garage that is 2 meters lower. How fast does he need to be to land on the roof of the said garage that is 3 meters away from the building?

A company receives sales in $20 per book and $18 per calculator. The per unit cost to manufacture each book and calculator are $5 and 4$ respectively. The monthly (30 day) cost must not exceed $27000 per month. If the manufacturing equipment used by the company takes five minutes to produce a book and 15 minutes to produce a calculator, how many books and calculators should the company produce to maximise profit? Please solve graphically and

The points (-5,-4) and (3,6) are the ends of the diameter of the circle calculate subequation

TEST 123123+123123

The two sides of the triangle are 12 cm and 5 cm, and the angle between the sides is 60°. Cover the area of the triangle!

The grading on a $159,775 house comes to $3974.75. What percent of the total cost is this? (Express your answer to the nearest hundredth percent.)

A contractor gives a bank note for $10250 at a rate of 1% for one month. How much interest is charged for 4 months?

a) Statistics scores are normally distributed with the mean of 75 and standard deviation of 7. What is the probability that a student scores between 80 and 88

Find the equation of a straight line that has slope 3 and passes through the point of (1, 7) . Write the equation of the line in general forms

-6 - t / 4 = -1

16-(x²+x+2)²

Sin(5pi/3)

A friend of yours asks you for a loan of 2500 to invest in his toy sales business. You agree to apply a simple interest rate of 45% per year, and that the loan will be returned in 6 months. How much interest will he pay you?

Answer to a math question A friend of yours asks you for a loan of 2500 to invest in his toy sales business. You agree to apply a simple interest rate of 45% per year, and that the loan will be returned in 6 months. How much interest will he pay you?

You might be interested in