Question

Mikael has a loan of $40 000.
He pays 1.6% simple interest for six months
How much interest does he pay altogether?

Answer 1

Step-by-step explanation:

Based on the given conditions,

$formulate: 1.6\% \times 40000 \times 12 \div 12

[tex] formulate: 1.6\% \times 40000 \times 12 \div 12Reduce the fraction: \dfrac{2 \times 40000}{125}

[tex] formulate: 1.6\% \times 40000 \times 12 \div 12Reduce the fraction: \dfrac{2 \times 40000}{125}$

[tex]Reduce the fraction: 2 \times320

[tex]Reduce the fraction: 2 \times320Calculate the product orquotient: 640[tex]

Answer 640

Answer 2

Answer:

$\sf\longmapsto \: 640$

Step-by-step explanation:

Based on given cases:

$\sf \: Formulate: 1.6\% \times 40000 \times 12 \div 12$

Reduce the fraction:

$\sf \longmapsto \: \dfrac{2 \times 40000}{125}$

$\sf \longmapsto \: 320 \times 2$

Calculate the product/quotient:

$\sf\longmapsto \: 640$