Math 123

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

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  1. $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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