Question

Tajmool lent his brother $4000 for three months. At
the end of the three months, his brother paid Tajmool
$4077.50 including interest. Determine the annual rate
of simple interest on this loan.​

Answer 1

Simple Interest

Discussing interest starts with the principal, or amount your account starts with. This could be a starting investment, or the starting amount of a loan. Interest, in its most simple form, is calculated as a percent of the principal. For example, if you borrowed $100 from a friend and agree to repay it with 5% interest, then the amount of interest you would pay would just be 5% of 100: $100(0.05) = $5. The total amount you would repay would be $105, the original principal plus the interest.

Answer 2

Answer:

jfjfjvjgjgjgjjggjgjvjkogcsgg

Explanation:

cjjfguphssyffkohfaxhcvku