Question

A company borrows $50,000 at 6% for 6 months. Find the amount of simple interest that

is due and the total amount that must be paid after 6 months.

Answer 1

$1,479.45

l= $50.000*0.06(6%=0.06)*(180/365)

I=3000*0.4931

I=1,479.45

Explanation: