2) Ruth borrows $440 at 0.6% simple interest per month. When Ruth pays the loan back 4 years later, how much interest does Ruth pay?

Question

p=13112
Rate=0.6
Time=48 months
interest=440

Answer 1

i = Prt = 440 * 0.006 * 48 = 126.72
P = principal -- the amount borrowed
since 1% = 0.01, 0.6% = 0.006

where did you get the 13112?

Ruth has to pay P + i = 440 + 126.72 = 526.72

Answer 2

i got it when i adden the times all and the money oude