The amount of the interest with simple interest of 6.9% will be $ 10.35.
Simple interest is the concept that is used in many companies such as banking, finance, automobile, and so on.
Miguel Rodriguez borrowed $300 from his brother Julio to pay for books and tuition.
He agreed to pay Julio in 6 months with simple annual interest at 6.9%
Then the amount of the interest will be
Amount = P x R x T / 100
We have
P = $ 300
R = 6.9%
T = 6 months = 0.5 years
Then we have
P = (300 x 6.9 x 0.5) / 100
P = $ 10.35
More about the simple interest link is given below.
https://brainly.com/question/2793278
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