How do you find the simple interest paid after 3 months on a loan of $9700 borrowed at an annual interest rate of 11%?

Laila Murphy

Laila Murphy

Answered question

2022-11-12

How do you find the simple interest paid after 3 months on a loan of $9700 borrowed at an annual interest rate of 11%?

Answer & Explanation

jennasyliang4tr

jennasyliang4tr

Beginner2022-11-13Added 15 answers

SI= Prt/100, Here P=9700, r=11 t= 3/12= 1/4 year
SI= 9700 11 100 1 4 =$266.75

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