find the interest paid to the nearest cent for each loan balance, interest rate, and time.\n9. $800, 9%, 4…

Explanation:

Step1: Recall simple - interest formula

The simple - interest formula is $I = Prt$, where $I$ is the interest, $P$ is the principal amount, $r$ is the annual interest rate (in decimal form), and $t$ is the time in years.

Step2: Solve for problem 9

Given $P=$800$, $r = 9%=0.09$, and $t = 4$ years. $I=Prt=800\times0.09\times4 = 800\times0.36=$288.00$

Step3: Solve for problem 10

Given $P = $280$, $r=5.5% = 0.055$, and $t = 4$ years. $I=Prt=280\times0.055\times4=280\times0.22=$61.60$

Step4: Solve for problem 11

Given $P=$1150$, $r = 7.6%=0.076$, and $t = 5$ years. $I=Prt=1150\times0.076\times5=1150\times0.38=$437.00$

Step5: Solve for problem 12

Given $P=$266$, $r = 5.2%=0.052$, and $t = 3$ years. $I=Prt=266\times0.052\times3=266\times0.156=$41.496\approx$41.50$

Step6: Solve for problem 13

Given $P=$450$, $r = 22%=0.22$, and $t = 1$ year. $I=Prt=450\times0.22\times1=$99.00$

Step7: Solve for problem 14

Given $P=$2180$, $r = 7.7%=0.077$, and $t=2.5$ years. $I=Prt=2180\times0.077\times2.5=2180\times0.1925=$420.65$

Step8: Solve for problem 15

Given $P=$2650$, $r = 3.65%=0.0365$, and $t = 4.5$ years. $I=Prt=2650\times0.0365\times4.5=2650\times0.16425=$435.2625\approx$435.26$

Step9: Solve for problem 16

Given $P=$1245$, $r = 5.4%=0.054$, and $t = 6$ months $=0.5$ years. $I=Prt=1245\times0.054\times0.5=1245\times0.027=$33.615\approx$33.62$

Answer:

9. $$288.00$
10. $$61.60$
11. $$437.00$
12. $$41.50$
13. $$99.00$
14. $$420.65$
15. $$435.26$
16. $$33.62$