Find the interest in dollars and the proceeds for the following problem. Choose the right answers. Tim Fisher received a $1200 discount loan to purchase a computer. The loan was offered at 18% for 180 days. Find the interest in dollars and the proceeds for the following problem. The interest is $. The proceeds are $.
To find the interest use the formula of I=prt I interest ? P principle 1200 R rate 0.18 T time 180/360 I assumed that the interest is ordinary. It means there are 360 days in a year. I=1,200×0.18×(180÷360) I=108
