Answer: The total interest paid on borrowing $800 at 18% for 11 months is $1,584.
Step-by-step explanation:
To calculate the total interest paid, we need to multiply the principal amount borrowed by the interest rate and the time for which it is borrowed. Here, the principal amount is $800, the interest rate is 18%, and the time is 11 months.
The formula to calculate the simple interest is:
Simple Interest = (Principal x Rate x Time) / 100
Substituting the values in the formula, we get:
Simple Interest = (800 x 18 x 11) / 100
Simple Interest = 1584
Therefore, the total interest paid on borrowing $800 at 18% for 11 months is $1,584.