INTEREST- REVISITED: Suzanne borrowed $820 from the bank for one year. if the annual interest rate was 15% what was the total amount she owed the bank at the end of the year??? show work PLZ!

Question

a_clan · Answer

Principal amount (P) = $820
Interest rate (R) = 15%
Time period (T) = 1 year

Interest (I) = P*R*T = 820 * (15/100) * 1
                =$123

Total amount (A) = P + I
                         = $820+ $123
                         = $943   (Answer)