You decide to buy a 60 in plasma-screen tv. you borrow $4300 from the electronics store at 1.8% per month simple interest, with no payments due for 2 years from the date of purchase. how much will you owe on the loan after 15 months? round your answer to the nearest whole dollar.

4300 is your principal1.8% interest rate (change it into decimal form; 0.018)2 years is our timeWe'll now multiply our variables.4300 x 0.018 x 2 = 154.80This shows that in 2 years at their interest rate that they have earned 154.80. We will add the $154.80 to the original borrowed amount of 4300.$4454.80 will be how much they will owe after 2 years.
To find out the amount in 15 months we'll divide 15 months by 12 and we get 1.25 and now we multiply the numbers again.4300 x 0.018 x 1.25 = 96.75They will pay $96.75 in interest within 15 months and we'll add it to the 4300.$4397 will be how much they will pay after 15 months.