How much interest is due on a loan of 20000 to be repaid at end of 7 months in one payment with interest at 11?

To calculate the interest due on a loan of $20,000 at an annual interest rate of 11% for 7 months, you can use the formula: Interest = Principal × Rate × Time. Here, the time in years is 7/12. The calculation would be: Interest = $20,000 × 0.11 × (7/12) = $1,616.67. Therefore, the total amount to be repaid at the end of 7 months would be $21,616.67, with $1,616.67 being the interest due.