You dont have to answer, i already solved the promblem myself =/
1 answer:
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Recall the formula for determining the interest using simple interest
Convert the rate into decimal form by dividing by 100%
Substitute the following values
P = $1300, r = 0.07, t = 6/12 (12 months in a year, only 6 months has passed)
Therefore, Margo will pay back $45.50 in interest.