Mr. Nelson had to borrow $1500 to purchase a new water heater after the snowpacalypse. The loan had 18% interest and Mr. Nelson agreed to pay it back in 6 months. How much is the interest?

Intermediate Algebra
19th Edition
ISBN:9780998625720
Author:Lynn Marecek
Publisher:Lynn Marecek
Chapter2: Solving Linear Equations
Section2.2: Use A Problem Solving Strategy
Problem 2.53TI: Eduardo noticed that his new car loan papers stated that with a 7.5% simple interest rate, he would...
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Mr. Nelson had to borrow $1500 to purchase a new water heater after the snowpacalypse. The loan had 18% interest and Mr. Nelson agreed to pay it back
in 6 months. How much is the interest?
Transcribed Image Text:Mr. Nelson had to borrow $1500 to purchase a new water heater after the snowpacalypse. The loan had 18% interest and Mr. Nelson agreed to pay it back in 6 months. How much is the interest?
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