Question

You borrow $500 at 4%
"**simple interest paid out only one time**" for 6
months.

Calculate the interest you pay (I) and the end amount (A).

Answer #1

simple intrest(I) = Ptr/100

= (500 * 1/2 * 4)/100

= 2000/100

= 20

Amount(A) = p + I

= 500 + 20

= 520

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