Question

Devin borrowed $1,058 at 13 percent for nine months. What will he pay in interest?

Answer 1

Devin borrowed $1,058 at 13 percent for nine months.

We have to calculate the interest paid.

Interest = $\frac{P \times R \times T}{100}$

Substituting the values of

Principal = $1058

Rate = 13%

Time = 9 months = $\frac{9}{12}$ year

Interest = $\frac{1058 \times 13 \times 9}{12 \times 100}$

Interest = 103.155

= 103.16

So, Devin will pay 103.16 as the interest.

Therefore, Option A is the correct answer.

Answer 2

A, 103.16 Hope this is right!