The masters family financed a computer that cost 1200. if the interest rate is 19% how much will the family owe for the computer after one month if no payments are made

INVESTING Suni plans to save the $200 she received for her birthday. The graphs shows the average yearly rates at three different banks. 1. Calculate 2.50% of $200 to find the amount of money Suni can earn in one year at Federal Credit Bank. $5 2. Calculate 2.75% of $200 to find the amount of money Suni can earn in one year at First Bank. $5.50 Principal is the amount of money deposited or borrowed. Simple interest is the amount paid or earned for the use of money. To find simple interest I, use the following formula. Principal Time, expressed in years. I = p rt Interest Annual interest rate, written as a decimal Find Interest Earned CHECKING Arnold has $580 in a savings account that pays 3% simple interest. How much interest will he earn in each amount of time? 1 5 years I = prt Formula for simple interest I = 580 · 0.03 · 5 Replace p with $580, r with 0.03, and t with 5. I = 87 Simplify. Arnold will earn $87 in interest in 5 years. 2 6 months 6 months = _6 12 or 0.5 year Write the time as years. I = prt Formula for simple interest I = 580 · 0.03 · 0.5 p = $580, r = 0.03, t = 0.5 I ≈ 8.7 Simplify. Arnold will earn $8.70 in interest in 6 months.