Margo borrows $100, agreeing to pay it back with 5% annual interest after 18 months. How much interest will she pay? Round your answer to the nearest cent, if necessary. S
Added by Greg H.
Close
Step 1
Since the interest rate is 5% per year, the interest rate for 18 months is (5/12)*18 = 7.5% Show more…
Show all steps
Your feedback will help us improve your experience
Donna Densmore and 58 other Algebra educators are ready to help you.
Ask a new question
Labs
Want to see this concept in action?
Explore this concept interactively to see how it behaves as you change inputs.
Key Concepts
Recommended Videos
Margo borrows $1900, agreeing to pay it back with 4% annual interest after 18 months. How much interest will she pay? Round your answer to the nearest cent, if necessary
Donna D.
Margo borrows $900, agreeing to pay it back with 7% annual interest after 6 months. How much interest will she pay? Round your answer to the nearest cent, if necessary.
Amine Y.
Margo borrows $1600, agreeing to pay it back with 7% annual interest after 18 months. How much interest will she pay? Round your answer to the nearest cent, if necessary.
Natalie B.
Recommended Textbooks
Elementary and Intermediate Algebra
Algebra and Trigonometry
Transcript
18,000,000+
Students on Numerade
Trusted by students at 8,000+ universities
Watch the video solution with this free unlock.
EMAIL
PASSWORD