Basic College Mathematics (10th Edition)

Published by Pearson
ISBN 10:
ISBN 13:

Chapter 6 - Percent - 6.7 Simple Interest - 6.7 Exercises - Page 447: 39


The interest on the loan is $26,250.

Work Step by Step

interest=principle*rate*time $i=(150,000)(0.07)(\frac{30}{12})$ = $(10,500)(2.5) = 26,250$
Update this answer!

You can help us out by revising, improving and updating this answer.

Update this answer

After you claim an answer you’ll have 24 hours to send in a draft. An editor will review the submission and either publish your submission or provide feedback.