Stephanie took advantage of the interest-only financing from Rooms-To-Go and borrowed $2,000 with a 15 percent annual interest r

Question

3 years ago

10

ate. How much will she have paid in interest after 8 months?

1 answer:

AnnyKZ [126] · Answer 1 · 2022-10-31T00:40:29+03:00

8 0

Answer: $200

Step-by-step explanation

Principal = $2000

Rate = 15%

Time = 8 months = 8/12 = 2/3 years

Interest = Principal × Rate × Time

= 2000 × 15% × 2/3

= 2000 × 15/100 × 2/3

= $200

The interest is $200