Marc maxwell took out a simple interest loan at 13% interest for 12 months. his previous balance is $2,681.04. what is the final
payment if the loan is paid off with the next payment? (hint: to calculate the payoff, find the interest on the balance due. then, add the interest to the balance due.) $2,876.91 $2,710.08 $2,801.01 $2,998.01
Simple interest is given by: S.I.=(PRT)/100 where: P=principle R=rate T=time from the question: P=2681.04 R=13% T=12 months=1 year thus; S.I=(2681.04×1×1.3)/100 =$34.85352 The total amount payable will be: Total amount=principle+interest =34.85342+2681.04 =$2715.90 This is approximately equal to $2,710.08
First, distribute -2 into the parentheses which gives you y+4=-2x+2. Subtract 4 to both sides and you get y=-2x-2. This would be the slope-intercept form of the original equation.