The principal amount is
The time for which money is borrowed is,
The interest rate is,
Determine the time in terms of year by divison of time by 12.
The formula for the intrest is,
Substitute the known calues in the formula to obtain the value of interest.
So intrest paid by the woman is $78.75.
(b)
Determine the amount paid by the woman.
So woman repay $3078.75 to the bank.