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)

Math question: Find the period and amplitude of the tangent function f(x) = tan x.

What is the length of an unknown side given angle C = 45°, side b = 8, and side c = 10 using the Sine Law?

Math question: Solve the inequality 3x + 8 < 17.

New questions in Mathematics

3(4×-1)-2(×+3)=7(×-1)+2

a) A tap can supply eight gallons of gasoline daily to each of its 250 customers for 60 days. By how many gallons should each customer's daily supply be reduced so that it can supply 50 more customers for twenty more days?

[(36,000,000)(0.000003)^2]divided(0.00000006)

What will be the density of a fluid whose volume is 130 cubic meters contains 16 technical units of mass? If required Consider g=10 m/s2

A juice shop prepares assorted juices, for their juices they have 5 different types of fruit. How many types of assortments can be prepared in total, if it is considered an assortment to a juice made with two or more fruits?

(3x^(2) 9x 6)/(5x^(2)-20)

4x-3y=24 and 5x-2y=9 solve by elimination

How long will it take for $900 to become $5000 at an annual rate of 11.15% compounded bimonthly?

Find the equation of the line perpendicular to −5𝑥−3𝑦+5=0 passing through the point (0,−2)

Calculate the boiling temperature and freezing temperature at 1 atmosphere pressure of a solution formed by dissolving 123 grams of ferrous oxide in 1.890 grams of HCl.

The price per night of a suite at the Baglioni Hotel in Venice is 1896 euros, VAT included. The VAT in Italy is 25%. The hotel gets a return of 10% out of the price VAT included. a) What is the amount of VAT paid by the hotel for one

The simple average of 15 , 30 , 40 , and 45 is

Use linear approximation to estimate the value of the sine of 31o.

Sections of steel tube having an inside diameter of 9 inches, are filled with concrete to support the main floor girder in a building. If these posts are 12 feet long and there are 18 of them, how many cubic yards of concrete are required for the job?

A building lot is in the shape of a triangle with a base of 133 feet and a height of 76 feet. What is it's area in square feet?

A hardware bill totals $857.63 with discounts of 5% and 3%. What is the net cost of the Material ?

Calculate the change in internal energy of a gas that receives 16000 J of heat at constant pressure (1.3 atm) expanding from 0.100 m3 to 0.200 m3. Question 1Answer to. 7050J b. 2125J c. None of the above d. 2828J and. 10295 J

Read the “Local Communities as Stakeholders: Does Amazon Really Need Tax Breaks?” example on p. 83 in Ch. 3 of Management: A Practical Introduction. In your response, discuss whether you feel that tax breaks for big companies benefit local communities. Describe ways to attract business to a region without having a negative impact on the larger community.

simplify w+[6+(-5)]

A group of 17 people spent 9 days on vacation and spent R$776.34 on barbecue meat and the bill needs to be divided as follows: 6 people stayed for 9 days, 7 people stayed for 4 days, and 2 people stayed for 5 days and 2 people stayed 3 days, how much does each group have to pay for the days they stayed?

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