Candy bars are sold in a local store for 90 cents each. The factory has $1500 in fixed costs plus 10 cents of additional expense
1 answer:
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Answer:
She paid $251.40 in interest only for the loan.
Step-by-step explanation:
This is a simple interest problem.
The simple interest formula is given by:
In which E is the amount of interest, P is the principal(the initial amount of money), I is the interest rate(yearly, as a decimal) and t is the time.
In this problem:
So
She paid $251.40 in interest only for the loan.