what is the total payment required to pay off a promissory note issued for $900.00 at 12% ordinary interest…

Explanation:

Step1: Identify the simple - interest formula

The simple - interest formula is $I = Prt$, where $P$ is the principal amount, $r$ is the annual interest rate (in decimal form), and $t$ is the time in years. $P=$900$, $r = 0.12$ (since $12%=0.12$), and $t=\frac{180}{360}=0.5$ (using ordinary interest where the year is considered 360 days).

Step2: Calculate the interest

$I = Prt=900\times0.12\times0.5$ $I = 900\times0.06=$54$

Step3: Calculate the total payment

The total payment $A$ is the sum of the principal $P$ and the interest $I$. $A=P + I$ $A=900 + 54=$954.00$

Answer:

$954.00$