Question

You decide to buy in plasma screen 60 in tv. You borrow $4300 from the electronics store at the 1.8% per mouth simple interest with no payments due for 2 years from the date of purchase. How much will you owe on the loan after 15 months?

Answer 1

formula for simple interest: A = P(1+r)*t

where A = total amount owed, P = amount borrowed, r = interest rate per month, t = number of months

Answer 2

120,400