EstrellaM282342 EstrellaM282342
  • 03-11-2022
  • Mathematics
contestada

Margo borrows $1400, agreeing to pay it back with 6% annual interest after 16 months. How much interest will she pay?

Respuesta :

RalstonS136627 RalstonS136627
  • 03-11-2022

Given,

The principal amount is $1400.

The rate of interest is 6%.

The time period is 16 months.

Required

The interest paid by Morrow.

The simple interest is calculated as,

[tex]Simple\text{ interest=}\frac{P\times R\times T}{100}[/tex]

Substituting the values then,

[tex]\begin{gathered} S.I=\frac{1400\times6\times16}{100\times12} \\ S.I=14\times2\times4 \\ S.I=56\times2 \\ S.I=112 \end{gathered}[/tex]

Hence, the interest she will pay is $112.

Answer Link

Otras preguntas

what is the standard form of the parabola whose vertex form is Y=-(X-3)^2+11
what physical property makes metal pots good for cooking?
PLEASE HELP I GIVE THANKS
Max is 135 centimeters tall he is 18 centimeters taller than Rita Rita is 30 centimeters shorter than Jan how tall is jan.
why would genetic material need to be able to reproduce
Lamar has n decks of cards. each deck has 52 cards in it. using n write an expression for the total number of cards Lamar has
According to English tradition - what happens to the first man that a woman sees on Valentine's Day?
x+y=10 x-y=20 how do you solving systems of equations with elimination
There are 9 roses and 7 diasies. What is the ratio of roses to daisies?
For my science fair project, Im doing "Which plant fertilizer works best?" Im just not sure which plant i should use. My project is due sometime February 10-20