Answer:
$7084
Step-by-step explanation:
The formula for Simple interest is P×R×T÷100
P= Principal amount (amount borrowed) $6600, R= Rate 8%, T= Time in years 11/12years
Since the question says for 11months, one has to convert 11months to years which is 11/12years or 0.9166years
Next, insert the figures into the formula to get the interest
6600×8×11/12 ÷ 100
After solving, we get $484 as the Simple interest
To get the amount owed at the end of 11months, we then add the interest $484 and the borrowed amount $6600= $7084
