2006-11-16 17:27:03 · 9 answers · asked by garnisheed 1 in Business & Finance ➔ Personal Finance
It assuming the 9% is an annual rate and simple interest with no payments until the end of the six months, then the interest due is $292.50.
2006-11-16 17:36:55 · answer #1 · answered by Bob 3 · 0⤊ 0⤋
Is the 9% interest an annual charge or for the six month duration?
Why is it significant that a mother and daughter are involved?
2006-11-16 17:36:10 · answer #2 · answered by kearneyconsulting 6 · 1⤊ 0⤋
9% is the interest charged!
2006-11-16 17:38:51 · answer #3 · answered by David A 7 · 0⤊ 0⤋
6500*9/(100*2)=585/2=292.50
2006-11-16 17:34:49 · answer #4 · answered by ashok k 1 · 0⤊ 0⤋
$292.50. You only pay interest fo rthe length of time the money is borrowed. It always matters how long the loan is for .
2006-11-16 22:29:27 · answer #5 · answered by waggy_33 6 · 0⤊ 0⤋
6500 Ã 0.09 Ã 6 =
$3510.00
That's the interest.
2006-11-16 17:36:13 · answer #6 · answered by Rodney G 2 · 0⤊ 1⤋
Well I'd have given you formula directly but I'd prefer if you read about it as well.. It gives detailed information--
http://en.wikipedia.org/wiki/Simple_interest
2006-11-16 17:46:15 · answer #7 · answered by amish_sagar2000 2 · 0⤊ 0⤋
(6500*.09)/2=$292.50
2006-11-16 17:48:20 · answer #8 · answered by janicebks 3 · 0⤊ 0⤋
$585. It doesn't matter how long the debt is for.
2006-11-16 17:35:35 · answer #9 · answered by Anonymous · 0⤊ 1⤋