Using simple interest, it is found that she would have to pay the loan back on May 17.
<h3>Simple Interest</h3>Simple interest is used when there is a single compounding per time period.
The amount of money after t years in is modeled by:
In which:
- A(0) is the initial amount.
- r is the interest rate, as a decimal.
In this problem, the parameters are:
Solving for t, we have that:
Considering a year has 365 days:
0.125 x 365 = 46
46 days after April 1, hence she would have to pay it back on May 17.
More can be learned about simple interest at brainly.com/question/25296782
