Answered

Welcome to Westonci.ca, the Q&A platform where your questions are met with detailed answers from experienced experts. Get expert answers to your questions quickly and accurately from our dedicated community of professionals. Discover in-depth answers to your questions from a wide network of professionals on our user-friendly Q&A platform.

Sam borrows $1,000 from a bank that is charging eight percent simple interest per year. If he pays the loan back in six months, how much interest will he pay?

Sagot :

[tex]8\%:2=4\%=0.04\\\\0.04\ \times\ \$1,000=\$40\leftarrow answer[/tex]
Thank you for choosing our platform. We're dedicated to providing the best answers for all your questions. Visit us again. Your visit means a lot to us. Don't hesitate to return for more reliable answers to any questions you may have. Get the answers you need at Westonci.ca. Stay informed by returning for our latest expert advice.