SOLUTION: To finance her community college education, Sarah takes out a loan for $3600. After a year Sarah decides to pay off the interest, which is 7% of $3600. How much will she pay?

Question 132947: To finance her community college education, Sarah takes out a loan for $3600. After a year Sarah decides to pay off the interest, which is 7% of $3600. How much will she pay?
Thank you for your help
Answer by nycsharkman(136) (Show Source): You can put this solution on YOUR website!
To finance her community college education, Sarah takes out a loan for $3600. After a year Sarah decides to pay off the interest, which is 7% of $3600. How much will she pay?
The question tells you that the interest is 7% of $3600, right?
Interest = 0.07 times 3600
Interest = $252
So, Sarah will have to pay $252 for the amount of money that was given to her in the loan for school.
Is this clear?

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