Brianna has a 50$ online gift certificate from a book store. The cost of each book is $9. There is also a shipping charge of 5$
2 answers:
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Answer:
We will $ 6.25 of interest every 30 days.
Step-by-step explanation:
Please notice that a month equals 30 days and that earning due to interests will be only effective after each 30th day. The simple interest formula is defined by the following formula:
(1)
Where:
- Borrowed money, measured in monetary units.
- Simple interest rate, measured in percentage.
- Number of periods, measured in months.
- Interested gain due to borrowed money, meausred in monetary units.
If we know that ,
and
, then the interest earned is:
We will $ 6.25 of interest every 30 days.