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Myra borrowed $1,500 at 12.5% interest for three months. How much does she have to repay under a single-payment plan? a. $46.88 b. $1,562.50 c. $1,546.88 d. $187.50 **please explain how you got the answer,
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Aug 28, 2018
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Myra borrowed $1,500 at 12.5% interest for three months. How much
does she have to repay under a single-payment plan?
a. $46.88
b. $1,562.50
c. $1,546.88
d. $187.50
**please explain how you got the answer, it's just so that I can understand
Mathematics
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Buczek
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now, this is for 3 months, and we're assuming, I guess it doesn't really matter, but using simple interest.
now, 3 months is not even a year, there are 12 months in 1 year, so 3 months is 3/12 years, or 1/4.
Marcos Tanaka
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Sep 3, 2018
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Marcos Tanaka
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