42,964 views
26 votes
26 votes
2.) Olivia is borrowing $60 from her brother at 10% monthly interest. The

interest is to be compounded every month, and her only repayment
will be in full after 3 months. About how much will Olivia pay in
interest?

User Colin Schoen
by
3.0k points

1 Answer

9 votes
9 votes

Answer:

18 dollars

Explanation:

well my teacher tought me to use something called a proportian box when you multiply the 60 * 210 equals 600 divided by 100 equals that 6 dollars of the interest then you multiply by 3 months with gives you 18 dollars in total

hope this helps

User Sanket Parmar
by
3.1k points