to finance her community college education,Joanna takes out a stafford loan for $4500.after one year,joanna decides to pay off the interest.which is 8% of $4500. how much will she pay?

Question

anonymous · Answer

Can you work out what 8% of $4500 is?

anonymous · Answer

$4140

anonymous · Answer

That would be 92% of 4500. Try $4500 x 0.08 (because 8% as a decimal is 0.08)

anonymous · Answer

360

anonymous · Answer

Yes! She would pay $360 in interest for that year, (and still have $4500 to pay on the loan.)

anonymous · Answer

thank you polrek im just taking algebra and i stink at it

anonymous · Answer

Alternatively, you could take the 4500, multiply by 8, then divide by 100. You're welcome.

anonymous · Answer

wow thanks for helping me understand that

anonymous · Answer

do you have time to help me on 2 more?