Final answer:
Noriko's monthly payment for the Nintendo Switch, purchased at $350 with a 13% annual interest rate paid over 6 months, will be $62.13 with simple interest calculated.
Step-by-step explanation:
Noriko has purchased a Nintendo Switch for $350 and wants to pay it off over 6 months with an annual interest rate of 13%.
First, let's calculate the simple interest using the formula I = PRT, where I is the interest, P is the principal amount, R is the rate of interest per year, and T is the time in years.
For Noriko's purchase:
P = $350
R = 13% or 0.13
T = 6 months or 0.5 years
So, I = $350 * 0.13 * 0.5
= $22.75.
The total amount to be repaid will be the principal plus the interest, which is $350 + $22.75 = $372.75.
To find the monthly payment, we divide the total amount by the number of months:
Monthly Payment = $372.75 / 6
= $62.125
We can round this to the nearest cent, giving us a monthly payment of $62.13.