SOLUTION: Margo borrows $100, agreeing to pay it back with 8% annual interest after 18 months. How much interest will she pay?
Round your answer to the nearest cent, if necessary.
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Round your answer to the nearest cent, if necessary.
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Question 1195158: Margo borrows $100, agreeing to pay it back with 8% annual interest after 18 months. How much interest will she pay?
Round your answer to the nearest cent, if necessary. Answer by ikleyn(52803) (Show Source):
You can put this solution on YOUR website! .
Margo borrows $100, agreeing to pay it back with 8% annual interest after 18 months.
How much interest will she pay?
Round your answer to the nearest cent, if necessary.
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Simple interest formula is I = P*r*t = = = 12 dollars.
ANSWER. Simple interest after 18 months is 12 dollars.
Solved.
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To see many other similar (and different) solved problems on simple interest accounts, look into the lesson
- Simple interest percentage problems
in this site.
