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What is the simple interest on a loan of $310 for 4 months at 12% per year ?

What is the simple interest on a loan of $310 for 4 months at 12% per year ?
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What is the simple interest on a loan of $310 for 4 months at 12% per year ?

asked
User Fdrv
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7.7k points

2 Answers

2 votes
Use the ART/100 formula - amount * rate * time over 100
It only works for simple interest
answered
User David Baird
by
7.8k points
6 votes

Answer:

$ 12.4

Explanation:

i have got $ 12.4

answered
User Wewlie
by
8.4k points
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