Jack loaned Bob $1,500 at an annual interest rate of 7%. After one year, how much will Bob owe Jack?
Multiply 1,500 by .07. So you have: 1,500 x .07 ________ 105.00 7 times zero is zero (twice), then 7 times 5 is 35, then 7 times one is 7, carrying the 3 from the 35 into the next place is 7 +3 so that is 10. Then you put in the two decimal places. We are not compounding interest, right? So, now Jack owes Bob the original $1,500 that he borrowed, plus $105 in interest, which makes it $1,605.00. Try this some more with different numbers, this is the kind of simple math that you will need to learn how to do.
by Alice - 16 hours ago
$1608.44 if the interest in compounded monthly.
by big zak - 16 hours ago
$1500.00 X 7% = $105.00 $1500.00 + $105.00 = (your answer $1605.00
by Mike S - 16 hours ago
the interest of 7% on $1,500 is $105. so $1500 + $105 =$1605
by The Bricklayer - 16 hours ago
$1605.00....ps use a calculator enter 1500 and multiply by 0.07
by ILuvBub - 16 hours ago
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