Question

THIS IS URGENT !!!!!!!!!!!!!!!

Denise borrowed $850 from Kelsey who charges her 4% interest. How much interest will she owe after 6 months

a. $2,040

b. $1,700

c. $867

d. $17

Answer 1

d. 17

Explanation:

You are going to want to use the simple interest formula for this. The one below is modified for solving the interest earned.

`I=Prt`

I = interest amount

P = principal amount

r = interest rate (decimal form)

t = time (years)

First, change 4% into its decimal form:

4% ->
`(4)/(100)` -> 0.04

Also, since the equation is in years, 6 months will be represented by 0.5. Next, plug in the values into the equation:

`I=850(0.04)(0.5)`

`I=17`

Your answer will be d. 17