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.

Question

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!

bobpursley · Accepted Answer

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.

Tyler · Answer

275.655