Andrea borrowed 2,240 at 15% apr for 18 months. how much interest will she pay?is the answer $336
2 answers:
Answer:
No, the answer is not $ 336
The interest that she will pay is $ 504.
Step-by-step explanation:
Given : Andrea borrowed 2,240 at 15% apr for 18 months.
We have to calculate the interest will she pay.
Using formula for Simple interest.
Where P is principal amount
r is rate of interest
t is time period.
Given : P = $ 2240
t = 18 months
In years ,
r = 15% = 0.15
Substitute, we have,
Simplify, we have,
SI = 504
Thus, The interest that she will pay is $ 504.
No, the answer is not $ 336
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