Question

What is the approximate interest amount I would pay in 6 months for a $20,000 loan if the
interest rate is at 3% per year?​

Answer 1

Answer:

$300

Step-by-step explanation:

20,000 x (1+0.03/2)

= 20000 x 1.015

= 20300

Amount of loan to be paid = 20300-20000= 300

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