Question

Kerry bought a $550 freezer and paid $150 down. The balance was to be paid in 6 monthly payments of $70 each. How much interest did she pay in all?

Answer 1

550-150 down=borro 400$

pae 6*70$=420$

interest=20$

20/400=0.05, for half yeer, that be 10% for simpel interes