Answer:
$198.94
Step-by-step explanation:
First, convert R as a percent to r as a decimal
r = R/100
r = 1.9/100
r = 0.019 rate per year,
Then solve the equation for A
The formula is given as
A = P(1 + r/n)^nt
P = Principal = 198
r = 1.9%
t = 3 months , convert to years
= 12 months = 1 year
3 months = x
x = 3/12 = 0.25
n = Compounded Monthly = 12 times
Hence,
A = 198.00(1 + 0.019/12)^(12)(0.25)
A = 198.00(1 + 0.001583333)^(3)
A = $198.94
The amount she owes after 3 months = $198.94
