Ramona needs $2,095 immediately to pay for damage she did to her
friend's car. She obtains a one-year loan with a 12% simple yearly interest
rate. How much did she pay in interest only for the loan?

She paid $251.40 in interest only for the loan.

Step-by-step explanation:

This is a simple interest problem.

The simple interest formula is given by:

In which E is the amount of interest, P is the principal(the initial amount of money), I is the interest rate(yearly, as a decimal) and t is the time.

In this problem:

So

She paid $251.40 in interest only for the loan.

stethere all not eveanp-by-step explanation: