find the total amount due on a loan whose principal is $1780, whose rate is 12%, and whose time is 6 months?

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2006-11-16 14:59:37 · 3 answers · asked by ls1boi 1 in Business & Finance ➔ Credit

if its simple interst you would owe 1886.80
you just use .06% because the term is for half a year if it was a year you would use the 12% times 1780

2006-11-16 15:09:38 · answer #1 · answered by roy40372 6 · 0⤊ 0⤋

total amount due will be 1780+1780*12*6/12/100
=1886.80

2006-11-16 23:07:17 · answer #2 · answered by musa 3 · 0⤊ 0⤋

$1886.80 based on a straight 12% annual interest rate.

2006-11-16 23:06:45 · answer #3 · answered by Joe S 6 · 0⤊ 0⤋