Jack just took out a $3,000 loan for a new snowmobile the simple interest rate on his loan is 40% per year after 4 months how much interest will be charged ?
$3,000-40%=$1800 Meaning the interest per year is $1,200 $1,200(interest per year) divided by 12 months = $100 is the interest per month Interest for 4 months =$400 Overall the answer is $400 I hope this helps in any way :)
