Myra borrowed $1,500 at 12.5% interest for three months. How much
does she have to repay under a single-payment plan?
The interest for three months at 12.5% is:
$1,500 x 0.125 x (3/12) = $46.88
So Myra would have to repay:
$1,500 + $46.88 = $1,546.88