Question

Oliver borrowed $2,000 to purchase a riding lawn mower for his lawn care business. The bank offered him an interest rate of 13% for 9 months. Calculate the simple interest using I = prt.

$195
$260
$1,500
$2,340

Answer 1

Answer:
The correct answer option is $195

Explanation:

2000 * 13% / 9 months * 9 months

2000 * 0.13 / 9 * 9 = 2000 * 0.014444 * 9 = 195