The amount borrowed is the principal, p
p = $6320
Interest Rate, r = 18.5%
The time, t = 1 year
The amount paid back at the end of 1 year is:
[tex]\begin{gathered} A\text{ = P + }\frac{PRT}{100} \\ A\text{ = 6320 + }\frac{6320\times18.5\times1}{100} \\ A\text{ = 6320 + }1169.2 \\ A\text{ = }7489.2 \end{gathered}[/tex]The a
