Devin borrowed $1,058 at 13 percent for nine months. What will he pay in interest?How much is his total payment?What will be his monthly payment?

Answer:A. [tex]I\approx \$103.16[/tex]B. [tex]\text{Total payment}=\$1161.16[/tex]C. [tex]\text{The monthly payment}\approx \$129.02[/tex]Step-by-step explanation:We have been given that Devin borrowed $1,058 at 13 percent for nine months.A. To find the amount of interest paid by Devin we will use formula: [tex]I=Prt[/tex], where,[tex]I=\text{Amount of interest}[/tex],[tex]P=\text{Principal amount}[/tex],[tex]r=\text{Interest rate in decimal form}[/tex],[tex]t=\text{Time in years}[/tex].Let us convert our given interest rate in decimal form and time in years.[tex]13\%=\frac{13}{100}=0.13\\\text{9 months}=\frac{9}{12}\text{ year}=\frac{3}{4}=0.75\text{ year}[/tex]Upon substituting our given values in interest formula we will get,[tex]I=\$1058*0.13*0.75[/tex][tex]I=\$103.155\approx \$103.16[/tex]Therefore, the amount of interest paid by $103.16.B. Since total payment will be equal to interest rate plus amount of interest.[tex]\text{Total payment}=\$1058+\$103.16[/tex][tex]\text{Total payment}=\$1161.16[/tex]Therefore, Devin's total payment will be $1161.16.C. To find the monthly payment we will divide total amount by 9.[tex]\text{The monthly payment}=\frac{\$1161.16}{9}[/tex][tex]\text{The monthly payment}=\$129.01722\approx \$129.02[/tex]Therefore, the amount of Devin's monthly payment is $129.02.