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e-lub
22 days ago
6

Miguel Rodriguez Borrowed $400 from his brother Julio to pay for books and tuition. He agreed to pay Julio in 6 months with simp

le annual interests at 6.8% How much will the interest amount to what amount must Miguel pay Julio at the end of 6 months
Mathematics
2 answers:
lawyer [9.2K]22 days ago
8 0

Simple interest can be calculated using the formula:

S.I = P*T*R

Where S.I represents the simple interest to determine

P signifies the principal amount

T represents the time in years

R is the annual interest rate

In this instance:

The principal (P) is $400

The duration is 6 months, equivalent to 1/2 year

The annual interest rate is set at 6.8%, which is 6.8/100 or 0.068

Calculating Simple Interest gives us:

Simple Interest = P*T*R

Simple Interest = 400*1/2*0.068 = 200 *0.068

Simple Interest = $13.6

At the end of six months, Miguel must pay Julio $13.6 in interest.

Svet_ta [9.5K]22 days ago
5 0

Answer:

13.00

Step-by-step explanation:

This assumes that the yearly interest rate is 6.3

and that the total amount was $413.00

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