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Carla compra borrowed 800 at 14

User DVK
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1 Answer

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Final answer:

The question pertains to financial mathematics, specifically calculating monthly payments for a loan and the time to pay off a debt. It requires understanding loan amortization and debt repayment concepts.

Step-by-step explanation:

Carla borrowed $800 at 14%. The amount borrowed is $800 and the interest rate is 14%. To calculate the interest, we multiply the amount borrowed by the interest rate: $800 * 0.14 = $112. So, Carla will have to pay $112 in interest on top of the $800 borrowed.

The question appears to concern financial mathematics, specifically related to borrowing money and calculating loan payments and interest. The scenario resembles calculating the repayment details for a loan. The student must understand how to use the interest rate to find either the monthly payment for a loan or the time it will take to pay off a particular debt.

For instance, calculating the yearly payments for Charese's student loan of $200,000 at 6.8% interest over 15 years, or how long it will take Tyler to pay off a $5,000 credit card bill at a 21.9% APR with monthly payments of $300, involves understanding the formulas and methods for amortization schedules and debt repayment.

User Doblak
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