Miguel rodriguez borrow $400 from his brother julio to pay the books and tuition. he agreed to pay julio in six months with simple annual interest of 6.9% a. how much will the interest amount to b. what amount must miguel pay julio at the end of the six months

A. The interest at the end of the six months will be $13.8. B. Miguel must pay $413.8.

Step-by-step explanation:

Step 1: First we must calculate the annual interest of 6.9% on the total debt ($400).

$400 * 6,9%/100% = $27,6

This amount would be the equivalent of one year's repayment of the debt.

Step 2: As only six months passed, the interest to be paid will be half of what is equivalent to the annual interest.

$27,6 / 2 = $13,8

This is the amount of interest to be paid during the six months.

Step 3: Finally, to calculate the final amount that Miguel will have to pay, we add the amount of the debt acquired with the interest produced during the six months.

$400 + $13,8 = $413,8

Have a nice day!

y/x of point b= y/x of point a

step-by-step explanation:

(i got the same question, this was the correct answer.)