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Jeff bought a refrigerator for $1300. He made a 10% down payment and financed the rest at 6% for one year. How much interest did he pay?
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4 votes
Jeff bought a refrigerator for $1300. He made a 10% down payment and financed the rest at 6% for one year. How much interest did he pay?

User Mattpic
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2 Answers

4 votes
1300 x 0.06 x 1 = 78
1300 + 78 = 1378
$1378
User Allen More
by
8.6k points
3 votes

Interest=Principal*Rate*Time


Interest=1300*0.06*1


Interest=78

Jeff paid a total of $1,378.00 with an interest rate of 6% per annum
User Maxrodrigo
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8.2k points
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