If you purchase an item for $1,282 at an interest rate of 9.8%, and you finance it for 1 year, how much is the

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If you purchase an item for $1,282 at an interest rate of 9.8%, and you finance it for 1 year, how much is the

[From: ] [author: ] [Date: 11-11-23] [Hit: ]

282, your answer should be $1407.......

If you purchase an item for $1,282 at an interest rate of 9.8%, and you finance it for 1 year, how much is the amount of add-on interest? (Round your answer to the nearest dollar.)

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I=Prn , simple interest

I= 1282 x (0.098) x 1 = $125.64

Interest =$125.64

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multiply 1,282 by 0.098 and add 125.63 to 1,282, your answer should be $1407.63

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$126

1

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