Answered: If Jessica borrows $4,500 at 6 7/8%…

If Jessica borrows $4,500 at 6 7/8% simple interest for 4 years, how much interest will she pay? Group of answer choices $1,220.40 $103.13 $900.00 $5,737.50 $1,237.50

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

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Question

If Jessica borrows $4,500 at 6 7/8% simple interest for 4 years, how much interest will she pay?

Group of answer choices

$1,220.40

$103.13

$900.00

$5,737.50

$1,237.50

Expert Solution

Simple Interest formula

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