Sherri borrowed $3,200 at 13 percent APR for 18 months. If she must pay 19.5 per $100, what is the total interest? $624 $3,824 $

Question

4 years ago

11

351 $253.50

2 answers:

TiliK225 [7] · Answer 1 · 2022-01-29T19:42:38+03:00

7 0

Sherri borrowed 264 cuz 3200/100 is 32, and 32/19.5 is 264.

brilliants [131] · Answer 2 · 2022-01-29T21:24:09+03:00

Answer:

Option A. $624

Step-by-step explanation:

Sherri borrowed = $3,200

APR = 13%

Time = 18 months or 1.5 year

If she must pay per $100 = $19.5

Total hundreds in $3,200 = $\frac{3200}{100}$ = 32

32 × 19.5 = $624

Total interest = Principal × rate of interest × time

= 3200 × 0.13 × 1.5

= $624

The total interest is $624.