Find the interest on the following loan.

​$17501750

at

44​.5%

for

99

months

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Part 1

The interest is

​$enter your response here.

​(Round to the nearest cent as​ needed.)

To calculate the interest on a loan, we generally use the formula for simple interest:

\[
\text{Interest} = \text{Principal} \times \text{Rate} \times \text{Time}
\]

### Given:
- **Principal (P)** = $1750
- **Rate (R)** = 44.5% (or 0.445 as a decimal)
- **Time (T)** = 99 months

Since the time is given in months, let's convert it to years for simplicity in using standard interest formulas (12 months = 1 year):

\[
T = \frac{99}{12} \approx 8.25 \text{ years}
\]

### Step 1: Plug in the values

\[
\text{Interest} = 1750 \times 0.445 \times 8.25
\]

### Step 2: Calculate the interest

\[
\text{Interest} \approx 1750 \times 0.445 \times 8.25
\]
\[
\text{Interest} \approx 6429.19
\]

### Final Answer:
The interest on the loan is **$6429.19** (rounded to the nearest cent).

Would you like details on any part of this calculation? 

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Here are some related questions to explore this concept further:
1. How would the interest change if the loan was for 120 months instead?
2. What would the total amount owed (principal + interest) be at the end of the loan period?
3. How would compounding interest change this calculation?
4. How does converting the time period from months to years affect interest?
5. What happens to the interest if the rate is decreased by 5%?

**Tip:** Always double-check that your time period matches the rate's period when calculating interest (e.g., years or months).

Find the interest on the following loan: $1750 at 44.5% for 99 months. (Round to the nearest cent as needed.)

Learn how to calculate the interest on a $1750 loan at an annual rate of 44.5% over 99 months. This problem covers key math concepts like simple interest calculation, interest rate conversion, and time period adjustments. Ideal for students in Grades 9-10.

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