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Solve for Y. -Hannah Borrowed $47,838 at 5% Simple Interest for 15 Months

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Solve for y.
-Hannah borrowed $47,838 at 5% simple interest for 15 months. How much will the interest amount to? What is the total amount that she will have to pay back at the end of 15 months? Round answers to the nearest cent if
Necessary.

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Definitions:

Cost Drivers

Factors that cause a change in the cost of an activity, such as machine-hours, labor-hours, or quantity of materials.

Activity Variances

Differences between planned and actual costs arising from changes in activity levels in various cost centers within a business.

Cost Drivers

Factors that cause a change in the cost of an activity, used to assign overhead costs in activity-based costing systems.

Vocational School

An educational institution that provides specialized training and education targeted toward particular careers or trades.

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