Question

Calculate the amount of interest that will be charged on $9000.00 borrowed for four months at...

Calculate the amount of interest that will be charged on $9000.00 borrowed for four months at 9.0%.
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Answer #1

Correct Answer:

Interest for 4 month

$     270.00

working:

A

Amount borrowed

$    9,000.0

B

Rate of interest

9%

C=A*B

interest for a year

$    810.00

D=C/12

Interest for 1 month

$        67.50

E=D*4

Interest for 4 month

$     270.00

End of Answer.

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