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

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(1) Answers

Jayda

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