Question

Marcus borrows $16,500 to pay for his tuition. The annual interest rate of the loan is 4.8%. How much interest does Marcus owe at the end of one year? need help due tomorrow

Answer 1

792 is the answer

Explanation:

Well, what I did was I figured out 4.8% as a decimal = (0.048) and then I timed that with $16,500. Like this --> (0.048×16,500). Which gave me the total of (792)!

• Hope this helps! ^^

Answer 2

$792 in interest

Explanation:

16500(0.048) = 792