Posted by Yenny on .
carolyn borowed $125 if the interest rate is 1.5% per month on the unpaid balance and she does not pay this debt for 1yr how much interest will she owe at the end of the year
Math 123 -
$125 x 0.15 = $18.75/per month
then multiply by 12 months = $225 is the
amount of interest she owes at the end of the year.
Total balance is: $125 + $225 = $350