Margo borrows $400, agreeing to pay it back with 5% annual interest after 6 months. How much interest will she pay?

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02-10-2018
Mathematics

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Margo borrows $400, agreeing to pay it back with 5% annual interest after 6 months. How much interest will she pay?

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cfile01 cfile01 · Answer 1 · 2018-10-02T21:14:50+02:00

cfile01 cfile01

02-10-2018

$20 of interest. An easy way to think about this problem is first to solve for 10 percent which is easy because you just move the decimal to the left one place, then 5% is half of 10% which is equal to 40 so 40 divided by 2 equals 20

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ranamossa400 ranamossa400 · Answer 2 · 2018-10-02T21:18:25+02:00

ranamossa400 ranamossa400

02-10-2018

20$ of interest 100 divided by 5= 20$$

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