Kelly borrows $5,200 on 4% interest rate for 6 months. What will that total principal+interest payment be?

Answer 1

I = PRT

I = 5,200 * 0.04 * 0.5

I = ?

Add the interest to the principal to find the total payment.

Answer 2

I am confused-is interest measured as a percent or as money?

Answer 3

Interest is money.

Answer 4

p=$5200
i=$104
p+i=$5200+$104
=$5304

Answer 5

Right.

Answer 6

THANK YOU SO MUCH!

Answer 7

You're very welcome.

Answer 8

Kelly borrows $5,200 on 4% interest rate for 60 months.