lebronisthegoat23cav lebronisthegoat23cav
  • 13-11-2020
  • Mathematics
contestada

Jack just took out a $3,000 loan for a new snowmobile the simple interest rate on his loan is 40% per year after 4 months how much interest will be charged ?​

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zitlalebar0911
zitlalebar0911 zitlalebar0911
  • 13-11-2020
$3,000-40%=$1800
Meaning the interest per year is $1,200
$1,200(interest per year) divided by 12 months = $100 is the interest per month
Interest for 4 months =$400
Overall the answer is $400
I hope this helps in any way :)
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