Question 1195158
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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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<pre>
Simple interest formula is  I = P*r*t = {{{100*0.08*(18/12)}}} = {{{8*(3/2)}}} = 12 dollars.


<U>ANSWER</U>.  Simple interest after 18 months is 12 dollars.
</pre>

Solved.


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To see many other similar &nbsp;(and different) &nbsp;solved problems on simple interest accounts, &nbsp;look into the lesson

&nbsp;&nbsp;&nbsp;&nbsp;- <A HREF=https://www.algebra.com/algebra/homework/percentage/lessons/Simple-interest-percentage-problems.lesson>Simple interest percentage problems</A> 

in this site.



Learn the subject from there.