Find the value or measure. Round answers to the nearest tenth, as needed.
1 answer:
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Using simple interest, it is found that her interest charge this month will be of $30.
<h3>Simple Interest</h3>Simple interest is used when there is a single compounding per time period.
The amount of interest after t years in is modeled by:
I(t) = Prt
In which:
- P is the initial amount.
- r is the interest rate, as a decimal.
In this problem, considering the time in years, the parameters are:
Hence:
Her interest charge this month will be of $30.
More can be learned about simple interest at brainly.com/question/25296782