Question

Miguel Rodriguez borrowed ​$200 from his brother Julio to pay for books and tuition. He agreed to pay Julio in 6 months with simple annual interest at 6.8​%.
​a) How much will the interest amount​ to?
​b) What amount must Miguel pay Julio at the end of 6​ months?

The simple interest is ​$

Answer 1

Answer:

simple interest is $6.8

Miguel pay amount to Julio at the end of 6​ months $206.8

Step-by-step explanation:

Given : Miguel Rodriguez borrowed ​$200 from his brother Julio to pay for books and tuition. He agreed to pay Julio in 6 months with simple annual interest at 6.8​%.

To Find : ​a) How much will the interest amount​ to?

​b) What amount must Miguel pay Julio at the end of 6​ months?

Solution :

Formula for simple interest :

$S.I. = principal*rate*time$

Where rate is in decimal

Time is in years

So, rate of interest = 6.8 % = 0.068

Time = 6 months = $\frac{6}{12} = 0.5 years$

Principal = $200

Thus $S.I. = 200*0.068*0.5$

$S.I. = 6.8$

Now To calculate  amount must Miguel pay Julio at the end of 6​ months

Amount = principal +Simple interest

Amount = 200+6.8 =206.8

Hence the simple interest is $6.8

And Miguel pay amount to Julio at the end of 6​ months $206.8

Answer 2

A)6/12 *.068=.034
b)200 + 200(.034)=$206.80 due at 6 months
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