How much simple interest would be paid on a loan of $18360 at 12% fpr 49 months

126316.80

Step-by-step explanation:

The formula used to solve simple interest is I = Prt

P = 18360

R = 12% (per month)

T = 49 months

Now all you have to do is plug in the numbers:

18360 x 0.12 x 49 = 107956.80

Usually now, the interest is added onto the principal to figure some new amount after 49 month(s). Or 18360 + 107956.80 = 126316.80. For example:

- If you borrowed $18360.00, you would now owe $126316.80

- If you loaned someone $18360.00, you would now be due $126316.80

- If you owned something, like a $18360.00 bond, it would now be worth $126316.80

Hope this helps!

:)

107956.80 is the correct answer

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