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If $15,000 is borrowed at 9% for 78 months, what is the simple interest amount on this loan?

If $15,000 is borrowed at 9% for 78 months, what is the simple interest amount on this loan?
asked 30.0k views
4 votes
If $15,000 is borrowed at 9% for 78 months, what is the simple interest amount on this loan?

asked
User Erakitin
by
8.2k points

1 Answer

3 votes
i= (15000*6.5*9)/100
=$8,775
answered
User Mohamed Hafez
by
8.3k points
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