Answer to Question #278598 in Financial Math for Kai

Question #278598

What is the simple interest on a Php 500 loan at 25% interest to be paid at the end of 6 months

Expert's answer

"Simple\\space interest\n\n= Amount \\space of\\space loan \\times Interest\\space rate \\% \\times time\\\\\n\n\n= 500 \\times 25\\% \\times \\frac{6}{12}\\\\\n\n=62.50"

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