24rossin 24rossin
  • 22-02-2022
  • Mathematics
contestada

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

Respuesta :

christabel9256
christabel9256 christabel9256
  • 22-02-2022

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

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