Question

What is the interest on $450 loan at 7% for 2 year

Answer 1

Answer:

$63 is correct answer

Step-by-step explanation:

Answer 2

Answer:

$63

Step-by-step explanation:

here,

principle=$450

rate=7%

time=2yrs

intrest=?

now,

as, we know,

intrest=(p×t×r)÷100%

intrest=($450×7×2%)÷100%

intrest=$6300÷100

therefore, intrest=$63#