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 measure of an angle formed by an angle bisector if one of the angles it bisects measures 70 degrees?

What is the length of the hypotenuse in a right triangle with one side measuring 8 units and the other side measuring 15 units?

Question: What is the area under the curve of f(x) = 2x + 3 from x = 1 to x = 5 using the Fundamental Theorem of Calculus?

New questions in Mathematics

Using a remarkable product you must factor the expression: f(x) =36x^2-324 and you are entitled to 5 steps

A circular park has a diameter of 150ft. A circular fence is to be placed on the edge of this park. Calculate the cost of fencing this park if the rate charged is $7 per foot. Use π = 3.14.

5/8 x 64

A person who weighs 200 pounds on earth would weigh about 32 pounds on the moon. Find the weight of a person on earth who would weigh 15 pounds on the moon.

Karina has a plot of 5,000 square meters in which she has decided that 60% of it will be used to plant vegetables. Of this part, 12% will be dedicated to planting lettuce. How much surface area of the plot will be used for cultivation?

The miles per gallon (mpg) for each of 20 medium-sized cars selected from a production line during the month of March are listed below. 23.0 21.2 23.5 23.6 20.1 24.3 25.2 26.9 24.6 22.6 26.1 23.1 25.8 24.6 24.3 24.1 24.8 22.1 22.8 24.5 (a) Find the z-scores for the largest measurement. (Round your answers to two decimal places.) z =

Identify a pattern in the list of numbers.Then use this pattern to find the next number. 37,31,25,19,13

Pedro had 80% of the amount needed to buy a game. Of this amount, you spent 15% on a watch and therefore, you will need to add another R$640.00 to purchase this game. Is the value of the game?

A person borrows rm 1000 from a bank at an interest rate of 10%. After some time, he pays the bank rm 1900 as full and final settlement of the loan. Estimate the duration of his loan.

A pair of die is thrown and the absolute difference of the two scores is recorded. What is the probability of the absolute difference being 4 or more?

2x+4x=

form a key for your lock containing the numbers 2 2 5 8 How many different keys can you form?

. What will be the osmotic pressure of a solution that was prepared at 91°F by dissolving 534 grams of aluminum hydroxide in enough water to generate 2.784 ml of solution.

Scores are normally distributed with a mean of 25 and standard deviation of 5. Find the probability that sixteen randomly selected students have a mean score that is less than 24.

Let v be the set of all ordered pairs of real numbers and consider the scalar addition and multiplication operations defined by: u+v=(x,y)+(s,t)=(x+s+1,y+t -two) au=a.(x,y)=(ax+a-1,ay-2a+2) It is known that this set with the operations defined above is a vector space. A) calculate u+v is au for u=(-2,3),v=(1,-2) and a=2 B) show that (0,0) #0 Suggestion find a vector W such that u+w=u C) who is the vector -u D) show that axiom A4 holds:-u+u=0

A,B,C and D are the corners of a rectangular building. Find the lengths the diagonals if AB measures 38' - 9" and AD measures 56' - 3"

On Tuesday Shanice bought five hats.On Wednesday half of all the hats that she had were destroyed.On Thursday there were only 17 left.How many Did she have on Monday.

Farm Grown, Inc., produces cases of perishable food products. Each case contains an assortment of vegetables and other farm products. Each case costs $5 and sells for $15. If there are any not sold by the end of the day, they are sold to a large food processing company for $3 a case. The probability that daily demand will be 100 cases is 0.30, the probability that daily demand will be 200 cases is 0.40, and the probability that daily demand will be 300 cases is 0.30. Farm Grown has a policy of always satisfying customer demands. If its own supply of cases is less than the demand, it buys the necessary vegetables from a competitor. The estimated cost of doing this is $16 per case. (a) Draw a decision table for this problem (b) What do you recommend?

calculate the product of 4 and 1/8

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