Question

1 point

Answer 1

Answer:

She will be charged $180 once lets the account go past 6 months before making a payment.

Step-by-step explanation:

This is a simple interest problem.

The simple interest formula is given by:

$E = P*I*t$

In which E is the amount of interest earned, P is the principal(the initial amount of money), I is the interest rate(yearly, as a decimal) and t is the time.

After t years, the total amount of money is:

$T = E + P$

In this question:

If she pays within 6 months, she is not charged any interest.

However, if after 6 months she has not paid the balance, she is charged 20% interest for this period.

Barbara financed a new bedroom set at the furniture store for $1,800.

This means that $P = 1800$

20 percent interest

This means that $I = 0.2$

How much interest will she be charged once she lets the account go past 6 months?

6 months is half a year, so this is E when $T = 0.5$

$E = P*I*t$

$E = 1800*0.2*0.5$

$E = 180$

She will be charged $180 once lets the account go past 6 months before making a payment.