Asked by Anuraj
David bought a new refrigerator for $799 and charged it on his credit card. If the card charges 23% simple interest, how much interest would be added after 18 months? Round your answer to the nearest cent.
I am new to this can you help explain how to do this too. Thanks!
I am new to this can you help explain how to do this too. Thanks!
Answers
Answered by
bobpursley
interest=799*0.23*1.5=...
simple interest does not compound, it just adds. So the question is asking what is 23Percent for 1.5 years.
simple interest does not compound, it just adds. So the question is asking what is 23Percent for 1.5 years.
Answered by
Tyler
275.655
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