Question

To finance the purchase of several new cars ,the Lincoln car rental agency borrowed $ 110 000 for 9 months at an annual interest rate of 5% . What is the simple interest due on the loan?​

Answer 1

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Answer 2

Answer: 4125

Explanation:

S.I = P X R /100 X T

S.I = 110000 x 5/100 x 9/12 = 4125

= 4125