Question

Mark borrows $2500. His loan is for 6 months and has a 12% interest rate.

How much interest will Mark pay on the loan?

Answer 1

$150.00

Explanation:

2500x.12x.5= 150.00

Answer 2

either 300 or 1800

Explanation:

depends on if they are counting for one month or the whole 6 months.