Solve for Y. -Levi Borrowed $5007 at 6% Simple Interest for 5 Months

question 472

Multiple Choice

Solve for y.
-Levi borrowed $5007 at 6% simple interest for 5 months. How much will the interest amount to? What is the total amount that Levi will have to pay back at the end of 5 months? Round answers to
The nearest cent if necessary.

• A) $126.23; $5133.23
• B) $125.18; $5132.18
• C) $150.21; $5157.21
• D) $100.14; $5107.14

---

Definitions:

Patent Protection

Legal rights granted to inventors preventing others from making, using, or selling their invention for a limited period.

United States

A country located in North America, consisting of 50 states and a federal district, known for its significant influence on global economy, culture, and politics.

Net Social Gain

The overall benefit to society, measuring the difference between total benefits and total costs when any action or policy is implemented.

Consumer Surplus

The difference between the total amount that consumers are willing and able to pay for a good or service and the total amount they actually do pay.