### Home > CCAA > Chapter 7 Unit 6 > Lesson CC2: 7.1.8 > Problem 7-91

7-91.

The Jones family wants to remodel their kitchen. They have saved

First calculate how much money the Jones need to borrow.

Calculate the amount of interest that is added per month.

Since the Jones can pay off the loan in

Finally, add that amount to the original to find the amount of money the Jones need to pay.

Do you see how the simple interest formula was used?