Emily's car broke down the weekend before she started a new job. She borrowed $880 from her parents, at an annual interest rate
of 3%, to quickly pay for the car repairs. If Emily paid her parents a total of $893.20 in six months, how much simple interest did she pay?
1 answer:
Answer:
<h2>$13.2</h2>
Step-by-step explanation:
Step one:
given data
principal=$880
rate= 3%
final amount = $893.2
time t= 6 months =0.5 years
Step two:
Required
Simple interest
SI=PRT/100
SI=880*3*0.5/100
SI=1320/100
SI=13.2
She paid Simple interest of $13.2
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