PLEASE HELP ASAP. I need help with this problem, I've gotten two answers: 60 and 90 but I can't figure out which one it is. Plea
se help with this and show work so I can understand how to do it, 30 points and thank you very much.
1 answer:
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Answer:
She will be charged $180 once lets the account go past 6 months before making a payment.
Step-by-step explanation:
This is a simple interest problem.
The simple interest formula is given by:
In which E is the amount of interest earned, P is the principal(the initial amount of money), I is the interest rate(yearly, as a decimal) and t is the time.
After t years, the total amount of money is:
In this question:
If she pays within 6 months, she is not charged any interest.
However, if after 6 months she has not paid the balance, she is charged 20% interest for this period.
Barbara financed a new bedroom set at the furniture store for $1,800.
This means that
20 percent interest
This means that
How much interest will she be charged once she lets the account go past 6 months?
6 months is half a year, so this is E when
She will be charged $180 once lets the account go past 6 months before making a payment.