# Math 123

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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

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