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2900 loan for 5 months at 8.95% simple interest

2900 loan for 5 months at 8.95% simple interest
asked 145k views
2 votes
2900 loan for 5 months at 8.95% simple interest

asked
User Arnorhs
by
8.2k points

1 Answer

5 votes

Answer:

108.1458

Explanation:

Simple interest=(2900×5×8.95)/100×12

=2900×5×895/120000

=29×5×895/1200

=129775/1200

=108.1458

So the simple interest is 108.1458

answered
User Shya
by
8.3k points
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