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Leon charged $75 at an interest rate of 12.5%.

How much will Leon have to pay after one month if he makes no payme...

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Leon charged $75 at an interest rate of 12.5%.

How much will Leon have to pay after one month if he makes no payments?
Simple interest

Answer

I'm guessing that this problem is talking about a loan of some sort.
So basically, let's look at the given.
In the problem, Leon is charged a fee of 75.
The interest rate would be 12.5 % if he doesn't pay his due amount.
So in order to get the total amount that he has to pay if he doesn't pay on time, you just need to multiply 75 with 12.5% or simply 0.125.
If you do this, you will get 9.375.
After that, you add 9.375 to the principal amount which is 75 and you will get 84.375.
So Leon has to now pay a total of 84.375.

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Virtual Teaching Assistant: John B.
Question Level: Basic
Karma: Free
Upload Date: 5/31/2017

This 26 words question was answered by John B. on StudySoup on 5/31/2017. The question contains content related to Math Since its upload, it has received 613 views.

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