A few days ago
a mother lends 6500.00 to her daughter for 6 months and charges 9% interest.?
Find the interest charged on the loan? Please show
Top 4 Answers
A few days ago
Favorite Answer
I’m assuming that you mean 9% annually.
$6500 X .09 X .5 ( half year) = $292.50
0
A few days ago
6500.00 x 0.09 = 585
585 is the interest
(7085 is the total charged – loan + interest)
You really need more info in your question – like is the interest monthly, annually etc???
0
A few days ago
That’s sad that a mother would charge her own kid interest on a loan.
1
A few days ago
Daughter could have gotten a better rate outside the family!
1
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