# Chapter 6 - Percent - 6.7 Simple Interest - 6.7 Exercises: 30

$9315 #### Work Step by Step We can calculate simple interest on a loan by using the formula$I=prt$(where I is the interest, p is the principal, r is the rate of interest, and t is the amount of time - expressed in years).$t=\frac{7}{12}$, because 7 months equals$\frac{7}{12}$years$I=prtI=9000\times.06\times\frac{7}{12}=315$dollars Finally, we can find the amount due by adding the interest to the original principal.$9000+315=9315\$ dollars

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