It would have cost Louisa $200 in interest charges.
The simple interest amount is calculated as follows;
SI = P*I*t
That is where we have
The balance is P.
The interest rate is I.
The time is t.
Regarding this issue;
Balance of $1,000, 19.99% APR, and 1 year.
She will pay the following sum;
SI = 1000 *0.199*1
SI = 199.9
SI ≅ 200
Louisa would have had to pay $200 in interest fees.
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