SOLUTION: moe $700 for 18 months at 4% simple interest how much interest will have to pay? what will be the total amount he has to pay back?

SOLUTION: moe $700 for 18 months at 4% simple interest how much interest will have to pay? what will be the total amount he has to pay back?

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Question 1158601: moe $700 for 18 months at 4% simple interest how much interest will have to pay? what will be the total amount he has to pay back?
Answer by Boreal(15235) (Show Source): You can put this solution on YOUR website!
interest=prt
I=$700*.04*1.5 years (18 months)
=$28*1.5=$42
repay that and principal which would be $742 total.
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