SOLUTION: Mary is charged $7800 for her home renovations. She paid monthly installments of $195 for 4 years. Calculate the simple interest per month she was charged.
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Question 1091049: Mary is charged $7800 for her home renovations. She paid monthly installments of $195 for 4 years. Calculate the simple interest per month she was charged.
Answer by josmiceli(19441) (Show Source): You can put this solution on YOUR website!
She paid $9,360 over 4 yrs
The interest she paid was $1,560
She paid 20% in simple interest
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