Margo borrows $1200, agreeing to pay it back with 4% annual interest after 17 months. How much interest will she pay?

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Blckknght asked Oct 8, 2023

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Margo borrows $1200, agreeing to pay it back with 4% annual interest after 17 months. How much interest will she pay?

Mathematics
college

Blckknght asked Oct 8, 2023

by Blckknght

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1 Answer

24 votes

Answer:

$68

Explanation:

P = $1200

R = 4%

T = 17months (Convert to years; 17 months ÷ 12 months)

Formular for Interest; I = PRT

100

I = $1200 × 4 × 17

100 × 12

I = $68

Bhagyas answered Oct 12, 2023

by Bhagyas

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