Answer:
Margo will pay $ 44 in interest.
Step-by-step explanation:
Given that Margo borrows $ 1600, agreeing to pay it back with 3% annual interest after 11 months, to determine how much interest will she pay, the following calculation must be performed:
3/12 x 11 = 0.25 x 11 = 2.75
1600 x 1.0275 = X
1644 = X
1644 - 1600 = 44
Therefore, Margo will pay $ 44 in interest.
