Question

Find the total amount due on a loan of $500 at 12% simple interest at the end of 30 months.
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Answer 1

Answer:

$650

Explanation:

Principal (P) = $500

Rate (R) = 12%

Time = 30 months = 30/12 year = 5/2 year

Simple Interest (SI) = P×R×T/100

= 500×12×5/100×2 = $150

Amount= P+SI= $500+$150=$650

HOPE THIS WILL HELP

Answer 2

the total amount is 581.22