juanita borrowed $600 to purchase a new computer. she was charged 7% interest for two years. how much…

juanita borrowed $600 to purchase a new computer. she was charged 7% interest for two years. how much interest will juanita pay? juanita will pay $ interest.

juanita borrowed $600 to purchase a new computer. she was charged 7% interest for two years. how much interest will juanita pay? juanita will pay $ interest.

Answer

Explanation:

Step1: Identify the formula for simple - interest

The formula for simple interest is $I = Prt$, where $P$ is the principal amount, $r$ is the annual interest rate (in decimal form), and $t$ is the time in years.

Step2: Convert the percentage to a decimal

The annual interest rate $r = 7%=0.07$. The principal amount $P = 600$ and the time $t = 2$ years.

Step3: Substitute the values into the formula

$I=Prt=600\times0.07\times2$.

Step4: Calculate the interest

$600\times0.07\times2 = 84$.

Answer:

84