Margo borrows $1300, agreeing to pay it back with 5% annual interest after 8 months. How much interest will she pay? Round your answer to the nearest cent, if necessary. $
Margo borrows $1300, agreeing to pay it back with 5% annual interest after 8 months. How much interest will she pay? Round your answer to the nearest cent, if necessary. $
Elementary Algebra
17th Edition
ISBN:9780998625713
Author:Lynn Marecek, MaryAnne Anthony-Smith
Publisher:Lynn Marecek, MaryAnne Anthony-Smith
Chapter3: Math Models
Section: Chapter Questions
Problem 430PT: Melinda deposited $5,985 in a bank account with an interest rate of 1.9%. How much interest was...
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![Margo borrows $1300, agreeing to pay it back with 5% annual interest after 8 months.
How much interest will she pay?
Round your answer to the nearest cent, if necessary.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb0900bbc-fc5e-4a0d-89ff-2b655aafa81a%2Fd06685ea-a21b-45d5-9b57-8b46560864ea%2Fpvl1l7_processed.png&w=3840&q=75)
Transcribed Image Text:Margo borrows $1300, agreeing to pay it back with 5% annual interest after 8 months.
How much interest will she pay?
Round your answer to the nearest cent, if necessary.
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