Question

Margo borrows $1700, agreeing to pay it back with 4% annual interest after 6 months. How much interest

will she pay?

Round your answer to the nearest cent, if necessary.

Answer 1

Answer:

$1733.67

Step-by-step explanation:

Simple interest rate formula: A = P(1 + r)^t

Simply plug in your known variables

A = 1700(1 + 0.04)^0.5

A = 1733.67

Remember that t is time in years.