5,635 borrowed at 
11
3
4
%
 from July 1 to December 31 of the same year

To solve this, we'll calculate the interest on the borrowed amount using simple interest, given that the loan is from July 1 to December 31, which is 6 months or half a year.

The simple interest formula is:

\[
I = P \times r \times t
\]

Where:
- $ I $ is the interest.
- $ P $ is the principal (the borrowed amount, $5,635).
- $ r $ is the annual interest rate (11.75% or 0.1175 as a decimal).
- $ t $ is the time the money is borrowed for, in years (6 months = 0.5 years).

Now let's calculate the interest.

\[
I = 5635 \times 0.1175 \times 0.5
\]

Let's compute the value.The interest on the borrowed amount of $5,635 at an annual interest rate of 11.75% for 6 months is approximately **$331.06**.

Would you like further details or have any questions?

Here are 5 related questions you might consider:
1. How would the interest change if the loan term was longer or shorter?
2. What if the interest was compounded monthly instead of being simple interest?
3. How would this calculation differ if the interest rate was lower, say 8%?
4. What is the total amount owed at the end of the loan period, including the interest?
5. How would the calculation differ if the loan was repaid early, after 4 months?

**Tip:** Always convert percentages to decimals (by dividing by 100) when using them in formulas.

5,635 borrowed at 11 3/4% from July 1 to December 31 of the same year

Learn how to calculate simple interest on a loan of $5,635 at an annual interest rate of 11.75%, borrowed from July 1 to December 31. The step-by-step solution uses the simple interest formula to determine the interest for a period of 6 months. Suitable for students in Grades 9-12.

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