Miguel rodriguez borrowed ? $100 from his brother julio to pay for books and tuition. he agreed to pay julio in 6 months with simple annual interest at 6.3%.

Formula for calculating  Amount is given by;

where

P represents the sum of amount borrowed

r represents the annual interest in decimal

t represents the time.

Use conversion:

1 year = 12 months.

As per the statement:

Miguel Rodriguez borrowed $100 from his brother Julio to pay for books and tuition. He agreed to pay Julio in 6 months with simple annual interest at 6.3%.

Sum of the amount Miguel Borrowed from his brother (P) = $100.

Time(t) = 6 months = 0.5 years

Annual rate of interest(r) = 6.3% = 0.063.

then substitute these values in the given formula to find the amount.

Simplify:

Therefore, the amount Miguel Rodriguez paid to his brother after 6 months will be, $103.15