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22-12-2021
Mathematics

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Deanna borrowed $650 at 8% 0 simple interest. How much - 52 interest did she pay for 1 year?

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22-12-2021

Answer:

i = ($650)(0.08)(1) = $52

Step-by-step explanation:

The formula for simple interest is i = prt. Here p = $650, r = 0.08 and t = 1 (year). Then the simple interest Deanna paid for this one year loan was

i = ($650)(0.08)(1) = $52

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