Margo borrows $1500, agreeing to pay it back with 4% annual interest after 7 months. How much interest will she pay? Round your answer to the nearest cent, if necessary. $

Intermediate Algebra
19th Edition
ISBN:9780998625720
Author:Lynn Marecek
Publisher:Lynn Marecek
Chapter2: Solving Linear Equations
Section2.2: Use A Problem Solving Strategy
Problem 2.49TI: Nathaly deposited $12,500 in her bank account where it will earn 4% simple interest. How much...
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Margo borrows $1500, agreeing to pay it back with 4%
annual interest after 7 months. How much interest will
she pay?
Round your answer to the nearest cent, if necessary.
$
Transcribed Image Text:Margo borrows $1500, agreeing to pay it back with 4% annual interest after 7 months. How much interest will she pay? Round your answer to the nearest cent, if necessary. $
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