Margo borrows $100, agreeing to pay it back with 6% annual interest after 6 months. How much interest will she pay.

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04-02-2020
Mathematics

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Margo borrows $100, agreeing to pay it back with 6% annual interest after 6 months. How much interest will she pay.

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KnowItAllPK KnowItAllPK · Answer 1 · 2020-02-04T21:12:28+01:00

KnowItAllPK KnowItAllPK

04-02-2020

Okay so she paid 100 dollars. There is 6 percent every month.

100*0.06=6

So, after 1 year it will be at 106 dollars...

But, we are looking for 6 months which is half of the year.

6/2=3...

So she will pay 3 dollars in interest.

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