122k views
3 votes
4. How much is the interest if you do not pay the second month? 17 pa

O $9.05
O $9.66
O $121.53
O $143.70

2 Answers

4 votes

Answer:

$9.66

Explanation:

  1. Find interest rate: 0.125 / 12 = 0.01417
  2. Find principal: $825.00 * 1.07 = $882.75
  3. Find interest using I=Prt: $882.75 * 0.010417 = $9.20
  4. Add principal, late fee, and interest: $882.75 + $35.00 + $9.20 = $926.95
  5. Use I=Prt: $926.95 * 0.1275 * 1/12 = $9.66
User Drumfire
by
8.2k points
3 votes

Answer:

Explanation:

answer is 9.66

User Haonan Chen
by
8.0k points
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