The total simple interest is $1,787.50 for 5% on $5500.
Step-by-step explanation:
Here's the math equation:
$5500 x .05 x 6.5 = $1,787.50
To get the total cost of the loan, you must add the interest paid back to the original amount of the loan. So make sure you know what the question is asking.
Is the question asking for just the interest amount or the total amount?
so if she has $65 and she spent 38.50 you find the difference which is $26.50 then you divide it by 4 which is 6.62 so yes your right its 6 if you round it
