Real Estate Math
A Montana property owner borrows $50,000 against their home equity at 8% simple annual interest for 18 months. What is the total interest owed?
A$4,000
B$6,000✓ Correct
C$8,000
D$7,500
Explanation
Simple interest = Principal x Rate x Time = $50,000 x 0.08 x 1.
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