Question

Ernie Rolph borrowed $6150 at 10% annual simple interest. If exactly 1 year later he was able to repay the loan

without penalty, how much interest would he owe?
Ernie will owe $
in interest.

Show work!

Answer 1

615

Explanation:

6150 ÷ 100 = 61.5

61.5 X 10 = 615

or

6150 X 0.1 = 615

Answer 2

615

Explanation:

6150 x 10%

6150 x 0.10 = 615