If $6,000 is borrowed at a simple interest rate of 4.75% p.a., calculate the interest charged for 9 months.

To calculate the interest charged on a loan using simple interest, we use the formula:

\[ \text{Interest} = P \times r \times t \]

where:
- $ P $ is the principal amount (initial loan amount),
- $ r $ is the annual interest rate (as a decimal),
- $ t $ is the time the money is borrowed for, in years.

### Given Values
- Principal amount, $ P $ = $6,000
- Annual interest rate, $ r $ = 4.75% = 0.0475
- Time, $ t $ = 9 months = $\frac{9}{12}$ years = 0.75 years

### Calculation

Substitute the given values into the formula:

\[ \text{Interest} = 6000 \times 0.0475 \times 0.75 \]

\[ \text{Interest} = 6000 \times 0.035625 \]

\[ \text{Interest} = 213.75 \]

### Conclusion

The interest charged for borrowing $6,000 at a simple interest rate of 4.75% per annum for 9 months is **$213.75**.

Would you like more details or have any questions on this? Here are some additional questions you might consider:

1. What would the interest be if the loan term were extended to 1 year?
2. How much total will be repaid after 9 months, including both principal and interest?
3. What is the interest for a loan of $10,000 at the same rate for 9 months?
4. How does the interest amount change if the annual interest rate increases to 5.5%?
5. What would be the monthly interest charged on the loan?

**Tip:** Understanding how to calculate simple interest helps in making informed decisions about loans and investments. Always consider both the rate and the time period when evaluating interest costs.

Learn how to calculate the interest charged on a $6,000 loan borrowed at a simple interest rate of 4.75% per annum for 9 months. Includes step-by-step calculation using the simple interest formula. Suitable for high school students studying finance or mathematics.

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