Solve for Y. -Sophia Borrowed $11,790 at 6% Simple Interest for 4 Months

question 219

Multiple Choice

Solve for y.
-Sophia borrowed $11,790 at 6% simple interest for 4 months. How much will the interest amount to? What is the total amount that she will have to pay back at the end of 4 months? Round answers
To the nearest cent if necessary.

• A) $294.75; $12,084.75
• B) $176.85; $11,966.85
• C) $237.78; $12,027.78
• D) $235.80; $12,025.80

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Definitions:

Disbursements

Payments made by a business, including amounts paid out for expenses, through methods like checks or electronic transfers.

Accounts Receivable

This represents money owed to a company by its customers for goods or services provided on credit.

Subsidiary Ledger

A ledger containing the details of accounts summarized in a controlling account in the general ledger.

Accounts Payable

Liabilities representing money owed by a company to suppliers or creditors for goods and services received but not yet paid for.