Mark lends $3350 to ivan at a 6.25% per year. how much will mark receive if ivan repays the entire loan and interest after 8 months?

$3489.58

Step-by-step explanation:

The amt. Mark will receive is calculated as follows:

original amount + simple interest would be:

$3350 +                $3350 * 0.0625 * (8 mo)( 1 yr ) / (12 mo)

or:  $3350 + $139.58 = $3489.58

to the risk of sounding redundant.

keeping in mind that 8 months is not even a year, and since there 12 months in a year, then 8 months is 8/12 years

25% is the answer

x = 12

y = 1

for the points!