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coldgirl [10]
4 years ago
14

Margo borrows $200, agreeing to pay it back with 4% annual interest after 16 months. How much interest will she pay? Round your

answer to the nearest cent, if necessary.
Mathematics
1 answer:
aleksandr82 [10.1K]4 years ago
3 0

Answer:

Interest I = $10.67

Step-by-step explanation:

Simple interest I = principal × rate × time

I = Prt

Given;

Principal P = $200

rate r = 4% = 0.04

time t = 16 months = 16/12 years

Substituting the given values;

I = $200 × 0.04 × 16/12

I = $10.66666666666

I = $10.67

She will pay $10.67 interest.

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Employers can use your credit report for the purpose of getting information. Then the correct option is B.

<h3>What is decision-making?</h3>

The process of making choice is by identifying the correct decision, gathering information, and assessing alternative solutions.

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More about the decision-making link is given below.

brainly.com/question/3369578

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Answer:

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