Petenerd said:Marl borrowed $200 at 12% simple interest for one year. If he makes no payments that year, how much interest will he owe at the end of the year?
A. $6.00
B. $12.00
C. $22.40
D. $24.00
I need help setting it up and solving it.
Petenerd said:I don't know what to do when I have the numbers in place. I don't know if I should divide the numbers or multiply... :|
Petenerd said:I did 12=(200)(r)(1).
Pete, can you tell us what 10% of 100 is?Petenerd said:Marl borrowed $200 at 12% simple interest for one year. If he makes no payments that year, how much interest will he owe at the end of the year?