Question

Margo borrows $1900, agreeing to pay it back with 4% annual interest after 9 months. How much interest will she pay?

Answer 1

1900*4%

1900*0.04

76 (interest for a year)

76*3/4 (3/4 because 9 months is 3/4 of a year)

57 (9 months interest)

Margo will pay $57 in interest