The interest which has to be paid is $28.
Simple Interest amount can be estimated by the product of principal amount, rate of interest, and time in year.
Simple Interest= S.I. =p*t*r/100
where p is the principal amount,
r: interest rate (%)
t: the time (in year).
Here, given,
Margo has taken borrowed $600 with an annual interest of 7% which has to be paid within 8 months.
principal amount P = $600
rate of interest= r=7%
time=t=8 months= 2/3 year
using the above-mentioned formula,
Simple Interest S.I.= p*t*r/100= (600*(2/3)*7)/100= $28
Therefore the interest which has to be paid is $28.
Learn more about Simple interests
here: https://brainly.com/question/12918571
#SPJ10
