Mrs. Johnson borrows $1400 with an interest rate of 5.5%. How much interest does she pay if she pays off the debt in 8 months?
1 answer:
Answer:
$616 in debt
Step-by-step explanation:
5.5% is equal to 0.055 so you multiply that by $1400 to get $77.
$77 is the interest rate.
You then multiply $77 by 8 months.
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