Question

I will give brainiest to whoever answers correctly !!

Answer 1

Answer:

$80.75

Step-by-step explanation:

From the question, we are given the following parameters

Amount borrowed (principal)=$3800

Time=3 months =1/4 years

Rate = 8.5%

Required

Interest paid by the man

Using the simple interest formula;

SI= Principal*Rate*Time/100

SI=3800*8.5*0.25/100

SI=38*8.5*0.25

SI=$80.75

Hence the man paid $80.75 for the use of the money

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