How much simple interest would be paid on a loan of 10140 at 8.4% for 5 months

$14398.80

Step-by-step explanation:

You first start with the formula: I = Prt

P = 10140

R = 8.4% (per month)

T = 5 months

Now plug the numbers into the formula:

I = 10140 x 0.084 x 5 = $4258.80

Now all you have to do is add the initial principal and the amount after 5 months to get 10140 + 4258.80 = 14398.80. Here are some examples:

- If you borrowed the $10140.00, you would now owe $14398.80

- If you loaned someone $10140.00, you would now be due $14398.80

- If owned something, like a $10140.00 bond, it would be worth $14398.80 now.

Hope this helped!

:)

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