Solve the Problem $\$ 16,007$ At $5 \%$ Simple Interest for 9 Months

question 358

Multiple Choice

Solve the problem.
-Sophia borrowed $\$ 16,007$ at $5 \%$ simple interest for 9 months. How much will the interest amount to? What is the total amount that she will have to pay back at the end of 9 months? Round answers to the nearest cent if necessary.

• A) \(\$ 533.57 ; \$ 16,540.57\)
• B) \(\$ 605.31 ; \$ 16,612.31\)
• C) \(\$ 600.26 ; \$ 16,607.26\)
• D) \(\$ 666.96 ; \$ 16,673.96\)

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Definitions:

Episodic Memories

Memories of specific events or episodes, including contextual details and emotions, that are personally experienced.

Procedural Memories

Memories of the processes involved in performing certain activities, often learned through repetition and practice, such as riding a bike or typing on a keyboard.

Confabulations

Fabricated memories believed to be true by the person but that actually never happened.

Prefrontal Cortex

The part of the brain located at the front of the frontal lobe, involved in complex behaviors including decision making and moderating social behavior.