Question

zack borrowed $1,087 for 12 months at 11 percent interest. if he must pay 11.00 per $100, what is the total interest?

Answer 1

Well you divide 100 into 1,087 witch is 10.87 and then times that by 11 witch is 119.57 and hold that aside then do 1,087•12= 13,044 then add that to 119.57 with will bring you to around 13,163.57 yeah around that sorry it's not exact but hope it helps

Answer 2

The total interest is $119.57

Explanation:

Given : Zack borrowed $1,087 for 12 months at 11% interest. It means he must pay 11.00 per $100.

To Find: what is the total interest?

Solution:

Formula of simple interest:
`(Principal * Rate* Time)/(100)`

Principal = $1,087

Rate = 11%

Time(in years) =12 months = 1 year

Substituting the values

`S.I. = (1087*11 * 1)/(100)`

`S.I. = (1087*11 * 1)/(100)`

`S.I. =119.57`

Hence The total interest is $119.57