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
108 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: What is the magnitude of the unit vector in the direction of vector with components ? (
+
What is the square root of 12?
+
What is the scientific notation of 546,200?
+
New questions in Mathematics
a to the power of 2 minus 16 over a plus 4, what is the result?
calculate the following vector based on its base vectors a= -18i,26j
A brass cube with an edge of 3 cm at 40 Β°C increased its volume to 27.12 cm3. What is the final temperature that achieves this increase?
The bus one way of the road which is 10km is heading with speed of 20km/h ,then the bus the other 10km is heading with speed of 60km/h. The middle speed of the road is it equal with arithmetic speed of the v1 and v2 ?
A bird randomly chooses to land on 1 of 12 perches available in its aviary. Determine the Probability of it landing on a perch numbered 8 and then on a perch marked with a prime number; take into account that he never lands on the same perch in the sequence.
9b^2-6b-5
In a store, a person carries 14 kilos of rice and 28 kilos of flour. In what ratio are the kilos found? (Remember to simplify until you reach an irreducible fraction)
Let f(x) = xΒ² βˆ’ 1. Find the equation of the tangent line to the graph of f at the point x0 = 2.
The sum of two numbers is equal to 58 and the largest exceeds by at least 12. Find the two numbers
solve for x 50x+ 120 (176-x)= 17340
Determine the reduced equation of the straight line that is perpendicular to the straight line r: y=4x-10 and passes through the origin of the Cartesian plane
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
The physician orders 15mg of tramadol(liquid). On hand is 30mg/2mL vials. How many mL will the MA administer?
1. A pediatric client is prescribed digoxin for congestive heart failure. The dose prescribed is 40 mcg/kg twice daily. The child weighs 33 pounds. What is the dosage in mg to be given per dose? Round to the nearest hundredth. Calculate your answer in mg per dose. Enter numerical value only.____mg
The simple average of 15 , 30 , 40 , and 45 is
Calculate the difference between 407 and 27
Find the number of pounds of nails required for 17850 square feet of drywall if each thousand square feet requires 4.5 pounds of nails.
effectiveness of fiscal and monetary policy under closed and open economies
f(r) = 1/r+9 find f(x^2) + 1
f(x)= 9-x^2 find (f(x+h)-f(x) )/h