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 value of x makes the equation true ? 4(2x-4)=16
What value of x makes the equation true ? 4(2x-4)=16
find the circumference of a circle whose radius is 15.4cm
find the circumference of a circle whose radius is 15.4cm
In scientific notation, what is the sum of 2.3 times 10^{-3} and 5.4 times 10^{-4}?a. 2.84 times 10^{-3}b. 5.63 times 10^{-3}c. 7.7 times 10^{-7}d. 12.42 times
find the circumference of a circle whose radius is 15.4cm
find the circumference of a circle whose radius is 15.4cm
What value of x makes the equation true ? 4(2x-4)=16
jasmines cd collection is 3/8 jazz 1/4 rap and the rest is rock music what is the fraction of rock music
What value of x makes the equation true ? 4(2x-4)=16