Joe borrowed $900 from Sam for six months. How much will Sam earn if he charges Joe a simple interest rate of 4 percent?

(1) Answers

simple interest you can charge it monthly or yearly find 4% and multiply by how many months or years 4% of 900= 0.04 times 900=36 that is each time the interst is added if it is monthly, (6months so ) 6 times 36=216 if it is yearly (6months=1/2year so )6 times 1/2=3 if it is taken monthly, then Sam earns $216 if it is taken yearly, then Sam earns $3

Add answer