Answered

Select the correct answer.
Vincent borrowed $500 from Mitchell for six months. How much interest will Mitchell earn if he charges Vincent a simple interest rate of 3 percent?

simple interest = P × r × t
A.
$7.50
B.
$15
C.
$75

Answer :

christabel9256

Answer:

A

Step-by-step explanation:

I= PRT

[tex]simple \: interest = \frac{500 \times 3 \times 1}{100 \times 2} [/tex]

[tex] = \frac{1500}{200} [/tex]

=$7.50

Other Questions