azambrano2027 azambrano2027
  • 26-02-2022
  • Mathematics
contestada

You pay 3.5% annual simple interest for 12 years on a loan, and you pay $1512 in interest. what is the total amount you will repay?

Respuesta :

jdoe0001 jdoe0001
  • 26-02-2022

[tex]~~~~~~ \textit{Simple Interest Earned} \\\\ I = Prt\qquad \begin{cases} I=\textit{interest earned}\dotfill & \$1512\\ P=\textit{original amount deposited}\\ r=rate\to 3.5\%\to \frac{3.5}{100}\dotfill &0.035\\ t=years\dotfill &12 \end{cases} \\\\\\ 1512 = (P)(0.035)(12)\implies \cfrac{1512}{(0.035)(12)}=P\implies 3600=P~\hfill \boxed{\underset{\textit{total repay}}{\stackrel{3600+1512}{5112}}}[/tex]

Answer Link

Otras preguntas

Use a linear approximation (or differentials) to estimate the given number: √99.8
Was Dante beaten by the black Guelphs
When the sonnet states, “In my old griefs, and with my childhood’s faith” (line 10), what does the author mean by, “…childhood’s faith”? a)The innocent trust of
Which form of government would have the MOST amount of citizen participation
determine 3 solutions to this equation: 4x - 2y = 8. If the x's that have been given are 0, 2, and negative one, what could be a y for each of them?
Which of the following is an example of mechanical waves in nature? A. radio B. microwave C. light D.
How does human compassion inform our understanding of the world?
what is the next number 3 4 6 9 13 18 24
At a temperature of 273 k, the syringe contains 11.0 cm3 of air. how many moles of air are in the syringe?
how long is the term for a US senator