SOLUTION: Margo borrows $1300, agreeing to pay it back with 4% annual interest after 13 months. How much interest will she pay? Round your answer to the nearest cent, if necessary.

Question 1109869: Margo borrows $1300, agreeing to pay it back with 4% annual interest after 13 months. How much interest will she pay?
Round your answer to the nearest cent, if necessary.
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
Margo borrows $1300, agreeing to pay it back with 4% annual interest after 13 months. How much interest will she pay?
Round your answer to the nearest cent, if necessary.
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I = P*r*t
Int = 1300*0.04*(13/12) = $56.33
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Cheers,
Stan H.
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