Answer:
No, the answer is not $ 336
The interest that she will pay is $ 504.
Step-by-step explanation:
Given : Andrea borrowed 2,240 at 15% apr for 18 months.
We have to calculate the interest will she pay.
Using formula for Simple interest.
[tex]SI =P\times r\times t[/tex]
Where P is principal amount
r is rate of interest
t is time period.
Given : P = $ 2240
t = 18 months
In years , [tex]\frac{18}{12}[/tex]
r = 15% = 0.15
Substitute, we have,
[tex]SI=2240\cdot0.15\cdot\frac{18}{12}[/tex]
Simplify, we have,
SI = 504
Thus, The interest that she will pay is $ 504.
No, the answer is not $ 336
