PRACTICE PROBLEMS 7.8 Solve the word problems. 1. Mary Owens borrowed $100 from a loan company for 12 months. She signed a note repay the loan at $10 per month. How much interest did she have to pay?

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Fiza Khan asked Feb 10, 2023

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PRACTICE PROBLEMS 7.8 Solve the word problems. 1. Mary Owens borrowed $100 from a loan company for 12 months. She signed a note repay the loan at $10 per month. How much interest did she have to pay?

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Fiza Khan asked Feb 10, 2023

by Fiza Khan

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If she borrows $100

She will repay at rate of $10 per month

She would have paid = 12 x $10 = $120 ( in 12 months)

The interest she has to pay = $120 - $100 = $20

Kojot answered Feb 15, 2023

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