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Sagot :
Given,
The principal amount is $1400.
The rate of interest is 6%.
The time period is 16 months.
Required
The interest paid by Morrow.
The simple interest is calculated as,
[tex]Simple\text{ interest=}\frac{P\times R\times T}{100}[/tex]Substituting the values then,
[tex]\begin{gathered} S.I=\frac{1400\times6\times16}{100\times12} \\ S.I=14\times2\times4 \\ S.I=56\times2 \\ S.I=112 \end{gathered}[/tex]Hence, the interest she will pay is $112.
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